ISLAMABAD - Oil and Gas Regulatory Authority (OGRA) Friday announced up to 40.63 per cent increase ($6.8 per million British thermal units) in re-gasified liquefied natural gas (RLNG) prices for the consumers of Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) for the month of May.

According to the price notification issued by OGRA, the regulator raised the provisional price of RLNG for SNGPL customers by $6.2152/mmBtu, or 39.76 percent. For SSGC customers, it was increased by $6.8772/mmBtu or 40.66pc.

After the revision, the price of RLNG for SSGC consumers has been jacked up from $16.91/mmbtu in April to $23.78/mmbtu in May. Similarly RLNG price for SNGaPL consumers has increased by from $15.62/mmbtu during previous month to $21.83/mmbtu in May.

The new notified prices of RLNG also include charges of the LNG terminals, transmission losses, port charges, and margins of the state-run importers – Pakistan State Oil and Pakistan LNG Limited. These new weighted average sale prices of RLNG have been computed based on 12 cargoes imported for the month, including eight shipments by Pakistan State Oil and four by Pakistan LNG Limited.

Almost all the eight cargoes of PSO are from long term contracts. From one long term contract six cargoes have been procured while from another long term contract two cargoes were imported. The average cost of PSO long term contract for May is $13.1519/mmbtu. On the other hand, Pakistan LNG Limited has procured four cargoes from spot market at the average cost of $25.95.49/mmbtu.

It is worth mentioning here that for April Oil and Gas Regulatory Authority (OGRA) had slightly slashed the price of RLNG for Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) by $0.20/mmbtu to $15.62/mmbtu and $16.91/mmbtu, respectively.