OGRA Slashes LNG Prices by Up to 27.71% in Major Relief Move
The Oil and Gas Regulatory Authority (OGRA) has announced significant reductions in liquefied natural gas (LNG) prices, cutting rates by up to 27.71% for Sui gas systems.
The price reduction is applicable to the Sui Northern Gas Pipelines Limited (SNGPL) system, where LNG will now cost $19.03 per million British thermal units (MMBtu), down from $25.84. For the Sui Southern Gas Company (SSGC) system, OGRA has reduced the LNG price by $6.95 per MMBtu, bringing it to $18.13 per MMBtu.
The decrease in LNG prices may help ease pressure on the country's energy sector and could potentially reduce the cost of imported gas for consumers. However, the impact on consumer gas bills will depend on how the reduced LNG rates feed through the broader gas pricing mechanism.