Islamabad September 9 2022: The Oil and Gas Regulatory Authority (OGRA) notify Re-Gasified Liquefied Natural Gas (RLNG) prices for Sui Northern Gas Pipelines Limited (SNGP) at USD 16.9779 per MMBTU for September 2022 as Pakistan received nine LNG cargoes under long term contract.
Pakistan has not purchased any spot cargo since May 2022 due to substantial increase in spot RLNG prices. In May 2022, country get cheapest spot cargo at the rate of USD 23.12 per MMBTU which is 76.7 percnet higher when compared with purchases of gas at long term contract.
RLNG prices increased slightly by 0.2 percent when compared with the previous month for the consumers. However, in rupee terms. However, in rupee terms prices are down slightly by 0.1% when compared with the previous month.
The prices are 10.5 percent more when compared with the same period last year. Moreover, in rupee terms prices are 44.6 percent higher compared to the same period last year.
In rupee terms the RLNG prices will be PKR 3,743 per MMBTU for September 2022 compared to PKR 2,588 in the month of September 2021.
As per the notice, Pakistan State Oil (PSO) will bring eight (8) cargoes of LNG while Pakistan LNG Limited (PLL) will bring only one cargo during September 2022.
Average prices of Brent for the calculation of September 2022 RLNG prices has witnessed a growth of 47 percent compared to September 2021. The Brent price used for calculation of RLNG prices for the month of September 2022 has been calculated at USD 106.59 per barrel.
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