OGRA Reduces LNG Prices for December

The Oil and Gas Regulatory Authority (OGRA) has announced a reduction in liquefied natural gas (LNG) prices for December 2024, providing relief to consumers amid efforts to address energy costs.

As per the notification, the price for Sui Northern Gas Pipelines Limited (SNGPL) has been reduced by $0.36 per million British thermal units (MMBTU), bringing it to $12.89 per MMBTU. Meanwhile, the price for Sui Southern Gas Company Limited (SSGCL) has been cut by $0.25 per MMBTU, now set at $12.54 per MMBTU. These revised rates will remain in effect throughout December.

This price adjustment comes shortly after Pakistan successfully secured its second LNG cargo from the State Oil Company of the Azerbaijan Republic (SOCAR). The Energy Ministry and Pakistan LNG Ltd (PLL) confirmed the agreement, marking a positive step in stabilizing energy supplies.