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SNGPL RLNG Prices Increase by Over 2%, Slight Uptick for SSGC

by Web Desk
March 21, 2024
in Business
Reading Time: 2 mins read
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SNGPL RLNG Prices Increase by Over 2%, Slight Uptick for SSGC
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On Wednesday, the Oil and Gas Regulatory Authority (OGRA) announced an increase in the prices of re-gasified liquefied natural gas (RLNG) for consumers of both Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC).

Effective from March 1, 2024, the new prices reflect a rise of $0.332 per million British thermal units (mmBtu), constituting a 2.58 percent increase for SNGPL customers. Similarly, SSGC consumers will face a hike of $0.0979 per mmBtu, amounting to a 0.75 percent increment compared to February 2024 prices. In February, prices were reduced by up to $1.2867 per mmBtu, marking a 9 percent decrease.

Under the revised pricing structure, the weighted average sale price for SNGPL consumers is set at $12.814 per mmBtu, while SSGC consumers will be charged $13.056 per mmBtu. This contrasts with February 2024 prices of $12.492 and $12.9584 per mmBtu for SNGPL and SSGC consumers, respectively.

Since September 2023, RLNG prices have seen fluctuations, with only two months experiencing cuts. Notably, there was a 3.08 percent increase in September, followed by rises in October (3.87 percent), November (1.2 percent), and a significant spike in December (10.1 percent). January 2024 witnessed a reduction of 7.8 percent, followed by a 9 percent decrease in February. The recent increase in March prices comes amidst a global decline in LNG prices, with April delivery into northeast Asia dropping to $8.60 per mmBtu last week, its lowest level since April 2021.

The revised RLNG prices encompass various elements including charges for LNG terminals, transmission losses, port charges, and margins for state-owned importers like Pakistan State Oil (PSO) and Pakistan LNG Limited (PLL). These prices were determined based on the import of nine cargoes by PSO and one cargo by PLL.

Tags: rlngSNGPLSSGC
Web Desk

Web Desk

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