Regulator slashes RLNG prices for February

With system losses touching a massive 14.5 per cent, the Oil and Gas Regulatory Authority (Ogra) on Thursday notified up to 9pc reduction in the sale price of Regasified Liquefied Natural Gas (RLNG) for SSGCL and SNGPL for the current month, effective Feb 1, owing to lower international prices. This is the second month in a row that RLNG prices have declined. The price had dropped by 8pc after increasing by 10pc in December 2023. The RLNG sale price for Karachi-based Sui Southern Gas Company Ltd (SSGCL) has been cut at transmission stage by 9.02pc to $11.126 per million British thermal unit (mmBtu) from $12.229 mmBtu in January. The transmission stage rate for the company stood at $13.264 per unit in December. The sale price at the distribution stage for the company was decreased by 9.03pc to $12.96 per mmBtu against $14.245 in January and $15.45 per unit in December 2023.