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Ogra Reduces LNG Rates For January 2024

Ogra Reduces LNG Rates For January 2024

ISLAMABAD – The Oil and Gas Regulatory Authority (Ogra) has officially declared a reduction in the price of re-gasified Liquefied Natural Gas (RLNG) for the month of January.

According to a press release by the authority, the revised prices will be effective from January 1, 2024. Ogra specified that the LNG prices for the Sui Northern Gas Company will see a reduction of $1.12 per million British thermal units (mmbtu), while the prices for the Sui Southern Gas Company will witness a cut of $1.20 per mmbtu.

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The basis for this reduction in RLNG prices is attributed to the decrease in the DES (Delivered Ex Ship) price, as highlighted by Ogra.

For the Sui Northern region, the new RLNG price has been set at $13.68 per mmbtu, while for the Southern region, the revised price stands at $14.24 per mmbtu.

This adjustment in RLNG prices is part of the regular updates made by Ogra to align with the evolving market conditions and factors influencing LNG prices globally.

It is noteworthy that RLNG prices play a crucial role in the energy landscape of Pakistan, impacting various sectors such as power generation, industrial operations, and domestic consumption. Therefore, changes in RLNG prices are closely monitored and subject to regulatory oversight to ensure a balance between market dynamics and consumer interests.

As the authority takes such steps to manage and regulate energy prices, it contributes to the stability and predictability of the energy market in the country, promoting a conducive environment for both consumers and stakeholders in the energy sector.