Ogra notifies RLNG price rise of up to 15.3pc for October

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has notified an increase of up to 15.3 per cent in the prices of re-gasified liquefied natural gas (RLNG) for October.

According to the notification, the price for consumers of Sui Southern Gas Company rose by $2.17 per million British thermal units (mmBtu) to $16.3959, from $14.2233 in September. This is an increase of 15.27 per cent.

For consumers of Sui Northern Gas Pipelines, the price rose by $2.1296, or 14 per cent, to $17.3259 per mmBtu, from $15.1963.

The October price was set on the basis of two cargoes of LNG imported by Pakistan State Oil from Qatar under long-term contracts. One cargo was bought at 13.37 per cent of the Brent crude oil price and the other at 8.7153 per cent.

Pakistan LNG Limited did not buy any cargo from the spot market this month.

In September, the government had cut prices by up to 21.57 per cent, which eased fuel costs somewhat after months of disruption.

Qatar is Pakistan’s main source of LNG under two Brent-linked long-term contracts with PSO. After attacks on Qatari energy facilities on 2 March, QatarEnergy declared force majeure and suspended some deliveries to certain buyers in Europe and Asia, including Pakistan.

RLNG makes up about one-fifth of the country’s energy mix. It is widely used to make up the shortfall caused by falling domestic gas supply.