Islamabad July 23 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 17.4603 per MMBTU for July 2022 as Pakistan received eight LNG cargoes under long term contract.
RLNG prices increased substantially by 35 percent on year on year basis for the consumers when compared to rate of USD 12.9160 per mmbtu in July 2021. More over, in rupee terms prices are 81 percent higher compared to the same period last year.
The prices are down 16 percent when compared with the previous month due to lack of spot purchases.
In rupee terms the RLNG prices will be PKR 3,700 per MMBTU for July 2022 compared to PKR 2,039 in the month of July 2021.
As per the notice, Pakistan State Oil (PSO) will bring eight (8) cargoes of LNG while Pakistan LNG Limited (PLL) has been failed to arrange any cargo during July 2022.
Average prices of Brent for the calculation of July 2022 RLNG prices has witnessed a growth of 64% compared to July 2021. The Brent price used for calculation of RLNG prices for the month of July 2022 has been calculated at USD 111.55 per barrel.
