The Oil and Gas Regulatory Authority (Ogra) has announced a 3.20% increase in the price of Regasified Liquefied Natural Gas (RLNG) for August, reflecting the latest changes in global energy markets.
The new rates, effective immediately, have been detailed in an official notification issued by Ogra.
For customers of Sui Northern Gas Company (SNGC), the price of RLNG has been raised by 2.97%, translating to an increase of 40 cents per million British thermal units (mmbtu).
This brings the new price to $14 per mmbtu for August.
Similarly, the Sui Southern Gas Company (SSGC) will see a hike of 42 cents per mmbtu, resulting in a new price of $13.57 per mmbtu.
The revised pricing reflects the ongoing fluctuations in the global energy sector, which continue to impact domestic energy costs.
The notification from Ogra has been met with mixed reactions from industry stakeholders, as the hike in RLNG prices could potentially affect various sectors reliant on natural gas.
However, the increase was deemed necessary by the regulatory body to align with international market trends. With these adjustments, Ogra aims to ensure the stability of the energy supply chain while maintaining a balance between global prices and local consumer needs.
The new RLNG prices are expected to remain in effect throughout August, with further reviews anticipated in the following months.
