The Oil and Gas Regulatory Authority (OGRA) notified a 40% increase in Re-gasified Liquefied Natural Gas (RLNG) for the month of May.
As per details, The federal government has approved revised rates of Re-gasified Liquefied Natural Gas (RLNG) for the month of May.
The notification issued by OGRA reads that the per MMBTU price of imported RLNG on the system of Sui Northern Gas Pipelines Company Limited (SNGPL) has been hicked up to $6.2152, increasing its rate to $21.8317, Likewise, per MMBTU (Million British Thermal Unit) price of imported RLNG has been increased up to $6.8772 for the Sui Southern Gas Pipelines Company (SSGC) system and the new rate will be $23.7873 per MMBTU.
It must be noted that the RLNG rate for SNGPL in the previous month of April, was fixed at $15.6165 per MMBTU and $16.9101 per MMBTU for SSGC.
The costly RLNG will hike the production cost of the industries while the power tariff will go further up in the country, The increasing production cost will also hike the commodities rates besides affecting the industrial exports.
On the other hand, The Former energy minister Hammad Azhar said that the present government had purchased 4 priciest LNG cargoes in one go last month which resulted in the massive increase in the distribution price of RLNG for SNGPL by $6.21 to $21.831 and $6.87 to $23.78 for SSGC, added that the massive hike in RLNG rates will result in 40% higher gas prices for industries on LNG tariffs & expensive power generation.
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