Government Slashes RLNG Prices by 1.5% in July 2023
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The announcement was made by the Oil and Gas Regulatory Authority (OGRA) on Tuesday.
Under the new pricing, RLNG will be sold at $12.6493/mmBtu for SNGPL customers and $13.1367/mmBtu for SSGC customers, marking a 1.5% decrease compared to the previous rate.
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The government has been consistently lowering RLNG costs for domestic customers since May of the previous year, except for a few months. Notably, RLNG prices in the domestic market reached their highest point in May 2022 since Pakistan began importing LNG in 2015, standing at $21.8317/mmBtu for SNGPL and $23.7873/mmBtu for SSGC.
The revised rates likely include fees for LNG terminals, port costs, and the margins of state-run importers such as Pakistan State Oil (PSO) and Pakistan LNG Limited (PLL).
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This reduction in RLNG prices reflects the government's efforts to alleviate the burden on consumers and promote cost-effectiveness in the energy sector.
By implementing these measures, the government aims to create a favorable environment for trade and economic growth.
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