Islamabad March 21 2023: The Oil and Gas Regulatory Authority (OGRA) notify Re-Gasified Liquefied Natural Gas (RLNG) prices for Sui Northern Gas Pipelines Limited (SNGP) at USD 13.2942 per MMBTU for March 2023 as Pakistan is expected to receive nine LNG cargoes under long term contract.
RLNG prices decreased by 3 percent in dollar terms compared to the previous month for the consumers when compared to rate of USD 13.7046 per mmbtu in February 2023. Moreover, in rupee terms prices are 1.5 percent higher compared to the previous month as rupee lost nearly 4.4 percent in a month.
On year on year basis, RLNG prices decreased 15.9 percent for the consumers when compared to rate of USD 15.8131 per mmbtu in March 2022. However, in rupee terms prices are 30.0 percent higher compared to the same period last year.
The prices are down 3.0 percent when compared with the previous month due to decline of 3.0 prices in prices of Brent used for RLNG pricing.
In rupee terms the RLNG prices will be PKR 3,708 per MMBTU for March 2023 compared to PKR 3,653 in the month of February 2022 and PKR 2,851 in March 2022.
As per the notice, Pakistan State Oil (PSO) will bring eight (8) cargoes of LNG while Pakistan LNG Limited (PLL) has been able to arrange only one cargo during March 2023.
Average prices of Brent for the calculation of March 2023 RLNG prices has witnessed a decline of 2.1 percent compared to March 2022. The Brent price used for calculation of RLNG prices for the month of March 2023 has been calculated at USD 82.95 per barrel.
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