KARACHI: The Oil and Gas Regulatory Authority (OGRA) has declared a price cut in Liquefied Natural Gas (LNG), starting from January 1, which happens to be the same day when petrol prices were kept unchanged by the government for the next 15 days.
As per the announcement, the pricing of LNG has been decreased for Sui Southern Gas Company (SSGC) by $0.57 per MMBTU; the new LNG price for the Sui Southern system is $10.21 per MMBtu.
On the other hand, the Sui Northern Gas system is getting a minor reduction of $0.50 per MMBTU. The new rate of imported gas on the Sui Northern has been decided to be $11.27 per MMBTU.
In their statement, the authorities mentioned that the LNG price change is a reflection of international market trends and pricing strategies set by contracts. This price drop is due to lower costs of LNG shipments for the month of January.
In the earlier part of December, OGRA had decreased the LNG rates by up to 5.90%, which was a signal of continual measures taken to make the energy prices more bearable for the consumers of both households and industries throughout the country.
The analysts believe that this last change will definitely lighten the burden of monthly gas bills, especially for the large-scale users of LNG who are mostly in the industrial sector.
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