ISLAMABAD: The government Thursday raised prices of Re-Gasified Liquefied Natural Gas (RLNG) for February by 10.16 percent month-on-month for the Sui Northern Gas Pipelines Limited (SNGPL) and 10.4 percent for the Sui Southern Gas Company Limited (SSGCL).
The Oil and Gas Regulatory Authority (Ogra) notified the new RLNG prices at $9.6191 per million metric British thermal unit (mmbtu) for the SNGPL’s consumers and $9.3570 per mmbtu for consumers of the SSGCL.
In absolute terms, the RLNG price was increased by 0.8883/mmBtu for the SSGCL and $0.8875/mmBtu for the SNGPL.
The RLNG price was $8.4687/mmBtu for the SSGCL and $8.7316/mmBtu for the SNGPL in January, when the government had raised the prices of the RLNG 10.4 percent for the SSGC and 10.16 percent for the SNGPL.
The calculation of LNG DES prices is based at nine cargoes imported by the Pakistan State Oil (PSO) and the Pakistan LNG Ltd (PLL).
The PSO imported cargo at 13.37 percent to Brent and spot purchase by the PLL of three cargos varied for three windows for February at 11.62 percent, 23.43 percent, and 16.33 percent.
The LNG supply defaults in January by two foreign state-owned companies, Enoc and SOCAR and two urgent replacement tenders for February fetched about 16 to 18 percent cheaper rates.
Copyright Business Recorder, 2021
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