RLNG prices raised after two monthly reductions

ISLAMABAD: With massive system losses of 14.5 per cent, the Oil and Gas Regulatory Authority (Ogra) on Wednesday notified up to 2.75pc increase in the sale price of Regasified Liquified Natural Gas (RLNG) for two Sui gas companies — SSGCL and SNGPL — for the current month with effect from March 1 owing to higher international prices. This is the first price increase after a gap of two consecutive monthly price cuts — 9pc in February and 8pc in January. The RLNG’s sale price for Lahore-based Sui Northern Gas Pipelines Ltd (SNGPL) has been raised by 2.75pc to $11.86 per mmBtu for March against $11.55 in February, $12.65 in January and $13.68 in December. The sale price at the distribution stage for SNGPL was slashed by 2.58pc to $12.814 per mmBtu for March from $12.49 per unit in February, $13.67 in January and $14.8 in December. Likewise, the RLNG sale price for Karachi-based Sui Southern Gas Company Ltd (SSGCL) has been increased at the transmission stage by 0.8pc to $11.215 mmBtu against $11.126 in February. This is still on the lower side as 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 increased by 0.76pc to $13.056 per mmBtu for March against $12.96 in February, $14.245 in January and $15.45 per unit in December 2023.