RLNG Prices Slightly Reduce However, Ogra Booked 9 Cargos Of LNG For September

LNG fertilizer

KARACHI:The Oil and Gas Regulatory Authority (Ogra) Step up for RLNG  Prices Reduce , a liquefied natural gas by 0.01% for consumers of Sui Southern Gas Company (SSGC) and increased by 0.19% for consumers of Sui
Northern Gas Pipelines Limited (SNGPL).

According to a notification of RLNG  Prices Reduce issued by Ogra – the oil and gas industry regulator – on Friday,
the September price of RLNG has been increase by $0.02909 per million British thermal units (mmbtu) for SNGPL
and reduced by $0.0009 per unit for SSGC.

While Ogra, a total of 9 LNG cargoes have been book for September After RLNG Prices Reduce .

The regulator has increased the weighted average sale price of imported RLNG by $0.0283 (0.17%) per mmbtu
for the distribution network of SNGPL.

After the increase, the price of RLNG will go up to $16.9779 per unit in September from $16.9496 in August.

Similarly, the weighted average gas sale price for the SSGC distribution network has been slashed by 0.0021%. With this,
the price of RLNG has decreased to $17.4762 per mmbtu for September from $17.4783 per unit in August.

While IEEFA estimates that Pakistan’s LNG imports could rise to more than US$32 billion by FY2030, up from nearly
US$2.6 billion in FY2021, according to 
report co-authors and energy finance analysts Haneea Isaad and Samuel Reynolds.

LNG sourced from global markets has become 5 to 10 times more expensive than domestically produced gas in Pakistan,” says Isaad.

LNG has also been unreliable. LNG suppliers under long-term contracts with Pakistan have defaulted on at least 11
cargoes since January 2021, contributing to fuel and power shortages. Extreme LNG price volatility continues to
stymie energy sector planning and expose the government to massive subsidy burdens.