LNG price reduced up to 13.1%
The LNG price has skyrocketed 1,900 per cent from its tariff two years ago. PHOTO: FILE
The Oil and Gas Regulatory Authority (Ogra) has notified a reduction of up to 13.1% in prices of liquefied natural gas (LNG) for end-consumers of two public gas utilities – Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) – for October 2022.
In comparison with September, the LNG price for SNGPL consumers has been reduced by $2.1929/mmbtu for October while for SSGC consumers the rate has been slashed by $2.2896/mmbtu. The regulator has fixed the LNG price at $14.7850 / mmbtu for SNGPL consumers and $15.1865/mmbtu for SSGC consumers. In Sept, the LNG price was $16.9779/mmbtu for the SNGPL consumers and $17.4762/mmbtu for the SSGC consumers.
At the transmission stage, Ogra determined a reduction of 12.90%/mmbtu for SNGPL and 13.09%/mmbtu for SSGC as compared with Sept prices. The LNG rate is $13.7080/mmbtu for SNGPL and $13.3454/mmbtu for SSGC at the transmission stage.
Ogra has computed prices in view of the eight cargoes imported by PSO in Oct while one was a spot cargo.
The average delivery price of LNG imported under a long-term contract was $11.5632/mmbtu while the price was $11.8540/mmbtu for the spot cargo.
Published in The Express Tribune, October 18th, 2022.
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