BAFL 45.66 Increased By ▲ 0.56 (1.24%)
BIPL 20.08 Decreased By ▼ -0.17 (-0.84%)
BOP 5.34 Decreased By ▼ -0.06 (-1.11%)
CNERGY 4.54 Increased By ▲ 0.01 (0.22%)
DFML 16.01 Increased By ▲ 0.33 (2.1%)
DGKC 78.62 Increased By ▲ 5.74 (7.88%)
FABL 27.80 Increased By ▲ 0.65 (2.39%)
FCCL 18.86 Increased By ▲ 1.21 (6.86%)
FFL 8.96 Decreased By ▼ -0.13 (-1.43%)
GGL 12.85 Increased By ▲ 0.21 (1.66%)
HBL 111.54 Increased By ▲ 0.88 (0.8%)
HUBC 122.23 Increased By ▲ 0.71 (0.58%)
HUMNL 7.69 Increased By ▲ 0.34 (4.63%)
KEL 3.29 Increased By ▲ 0.06 (1.86%)
LOTCHEM 27.80 Increased By ▲ 0.48 (1.76%)
MLCF 42.36 Increased By ▲ 3.03 (7.7%)
OGDC 110.37 Increased By ▲ 2.37 (2.19%)
PAEL 18.97 Increased By ▲ 1.41 (8.03%)
PIBTL 5.46 No Change ▼ 0.00 (0%)
PIOC 114.91 Increased By ▲ 6.91 (6.4%)
PPL 94.72 Increased By ▲ 2.97 (3.24%)
PRL 25.32 Increased By ▲ 0.44 (1.77%)
SILK 1.10 Increased By ▲ 0.02 (1.85%)
SNGP 64.32 Increased By ▲ 1.22 (1.93%)
SSGC 12.26 Increased By ▲ 0.37 (3.11%)
TELE 8.36 Increased By ▲ 0.17 (2.08%)
TPLP 13.35 Increased By ▲ 0.24 (1.83%)
TRG 83.84 Increased By ▲ 2.23 (2.73%)
UNITY 25.89 Increased By ▲ 0.14 (0.54%)
WTL 1.54 Increased By ▲ 0.02 (1.32%)
BR100 6,308 Increased By 126.6 (2.05%)
BR30 21,973 Increased By 434.1 (2.02%)
KSE100 61,691 Increased By 1160 (1.92%)
KSE30 20,555 Increased By 366.1 (1.81%)

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has conducted a consultative session on Neutral Market Price under the OGRA Gas (Third Party) Access Rules for Gas Pipelines and Gas Network Codes, 2018, to encourage market liberalisation and private investment and ownership in the gas sector.

The session was held at the OGRA head office and through Zoom online application to seek meaningful suggestions and proposals from the stakeholders for a balanced decision-making on “Neutral Market Price” by the authority.

Masroor Khan, chairman OGRA and other members of the authority chaired the session.

The stakeholders in the field, the SNGPL, the SSGCL, the PLL, Pak Arab Fertilizer, Universal Gas Distribution Company, Shell Energy, Tabeer Energy, Energas, Pakistan Gas Port, K Electric, Trifigura Pakistan Ltd, Vitola Resources Pakistan, etc., have actively participated in the session and presented their point of views.

In concluding remarks, Masroor Khan, chairman OGRA appreciated the active participation of all stakeholders and assured that a judicious decision shall be taken in this regard.

“It has to be noted that some private entities are utilizing gas companies’ pipeline capacity to transmit their energy molecules from one point to another while some are also under engagement for the same kind of access arrangement. Therefore, a variety of opinion and divergent interests of all stakeholders could play a vital role for the Authority to pass a decision having unanimity and to harmonize ‘Neutral Market Price’.

The phenomena of Neutral Market Price emerges when more than one party have access to the pipeline and the lending/ borrowing of the energy molecules during a month takes place between the parties. This lending/ borrowing during the month is in fact inherent feature of access arrangement and requires financial settlement and close the transaction by the end of each month.”

The authority is a regulatory body responsible for regulating mid and downstream petroleum sector in Pakistan. The OGRA aims to develop and continuously work towards a safe, progressive and competitive Oil and Gas Industry in close coordination with all stakeholders and provide sustainable solutions, through innovation and adaptation, to foresee and overcome any challenges faced by the sector and to safeguard the interests and uphold the confidence of the nation and the consumers, in the areas of Nat Gas, Petroleum Products, Lubricants, LNG, CNG, LPG and (Oil Pipeline) Transportation of Petroleum Products.

Copyright Business Recorder, 2023


Comments are closed.

OGRA holds session on Neutral Market Price

Pakistan’s trade deficit narrows 34% to $9.38bn in 5MFY24

KSE-100 conquers 61,000 after single-day gain of 1,160 points

COP28: UAE president announces $30bn fund to bridge climate finance gap

Israel resumes Gaza attacks as truce expires, heavy fighting reported

Al Qadir Trust case: NAB files reference against Imran, wife

Inter-bank: rupee records 4th consecutive gain against US dollar

Open-market: rupee continues to strengthen against US dollar

PCB includes Salman Butt in selection panel, decision draws criticism

ECP refutes Babar Awan’s statement about KP’s seats being reduced

COP28: Caretaker PM Kakar arrives at Dubai Expo City