Islamabad November 11 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 14.4387 per MMBTU for November 2022 as Pakistan is expected to receive ten LNG cargoes under long term contract.
RLNG prices decreased by 2.3 percent in dollar terms compared to the previous month for the consumers when compared to rate of USD 14.785 per mmbtu in October 2022. Moreover, in rupee terms prices are 2.4 percent lower compared to the previous month as rupee gains nearly 0.1 percent in a month.
Asian spot liquefied natural gas (LNG) prices continued its downtrend this week on healthy inventories but are expected to rise in the short term, as buyers will need to boost stock ahead of cold winter months and as Europe faces higher price risk.
The average LNG price for November delivery into north-east Asia was $32.5 per million British thermal units (mmBtu), down $1.50, or 4.4%, from the previous week, industry sources estimated.
On year on year basis, RLNG prices decreased 7.9 percent for the consumers when compared to rate of USD 15.6791 per mmbtu in November 2021. However, in rupee terms prices are 17.0 percent higher compared to the same period last year.
In rupee terms the RLNG prices will be PKR 3,183 per MMBTU for November 2022 compared to PKR 2,720 in the month of November 2021.
As per the notice, Pakistan State Oil (PSO) will bring nine (9) cargoes of LNG while Pakistan LNG Limited (PLL) has been able to arrange only one cargo during November 2022.
Average prices of Brent for the calculation of November 2022 RLNG prices has witnessed a growth of 22.9% compared to November 2021. The Brent price used for calculation of RLNG prices for the month of November 2022 has been calculated at USD 93.88 per barrel.
S&P Global Commodity Insights assessed its daily DES Northwest Europe LNG price benchmark, for cargoes delivered in November on ex-ship (DES) basis, at $20.966/mmBtu on Oct. 13, a discount of $23/mmBtu to the November gas price at the Dutch TTF hub, said Ciaran Roe, global director of LNG.
Related Posts
