Islamabad: The Oil and Gas Regulatory Authority (OGRA) has announced new selling prices of imported liquefied natural gas (LNG) for July, significantly increasing the prices. The new prices will be applied according to the system of the relevant gas distribution companies.
According to a notification issued by OGRA, the selling price of LNG for customers of Sui Northern Gas Pipelines Limited (SNGPL) has been fixed at $25.83 per MMBTU, while the price on the Sui Southern Gas Company (SSGC) system will be $25.80 per MMBTU.
According to the regulatory authority, the main reason for the increase in LNG prices during July is the increase in import costs in the global market. Especially due to the ongoing tension in the Middle East, Pakistan had to buy five spot LNG cargoes at relatively high prices, which significantly increased the overall import costs.
Energy sector experts say that the geopolitical situation in the global market, uncertainty in the supply chain and increasing demand for energy are directly affecting LNG prices. In such circumstances, countries dependent on imported fuel may face additional financial pressure.
According to experts, if the price fluctuations in the global market and the situation in the Middle East continue, the cost of energy imports may be further affected in the coming months. However, prices will depend on global market trends, supply availability and international conditions.
After the new prices issued by OGRA, energy sector institutions and industry circles are keeping a close eye on the future situation in the global market, as the cost of importing LNG has a significant impact on the country’s overall energy costs.
