LAHORE: Sui Northern Gas Pipelines Limited (SNGPL) held its Corporate Briefing Session on September 12, 2024, at Faletti’s Hotel, Lahore.
The event was well attended by analysts, investors, and shareholders, both in person and via Zoom. Amer Tufail, Managing Director of SNGPL, welcomed the participants and highlighted the Company’s celebration of its 60th anniversary. He provided an overview of SNGPL’s performance and its strategic outlook for the future.
The Chief Financial Officer Kamran Akram presented key achievements for the fiscal year 2022-23, noting a rem
arkable reduction in Unaccounted-for Gas (UFG), which dropped to 5.15% from the previous year’s 5.58%. This achievement places SNGPL on par with leading global gas utilities. The Company reported an after-tax profit of Rs.10,564 million, translating into earnings per share (EPS) of Rs.16.66. Revenue for the year exceeded Rs.1.0 trillion. Additionally, SNGPL expanded its operations to Gilgit, supplying Synthetic Natural Gas (SNG) through the installation of an LPG-Air Mix plant.
During the session, participants were also informed of the Company’s ongoing efforts to further reduce UFG at a micro level through the installation of metering facilities at the Town Border Stations (TBS) level, along with other digitization initiatives aimed at improving operational efficiency.
Addressing SNGPL’s significant role in the country’s energy landscape, the management underscored that the Company fulfills 25% of Pakistan’s energy demand. The participants were briefed on the successful integration of 30 MMCFD of gas from Wali well discovery in the challenging terrain of Lakki Marwat. Moreover, the Company is on track to add an additional 100 MMCFD of gas to the system from further discoveries in the region.
In addition to its contributions to the nation’s energy needs, SNGPL also reaffirmed its commitment to corporate social responsibility, supporting various initiatives to assist underprivileged citizens.
Senior members of the Company’s management present at the event included Faisal Iqbal, Deputy Managing Director (Services); Saqib Arbab, Deputy Managing Director (Operations); Kamran Akram, Chief Financial Officer; and Imtiaz Mehmood, Company Secretary.
The briefing concluded with a Q&A session, where the Managing Director and senior management addressed queries from the attendees, fostering an engaging and positive dialogue.
Copyright Business Recorder, 2024
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