Friday, April 19, 2024

SNGPL Follows SSGC’s Lead, Requests 147% Gas Price Hike

Following in the footsteps of Sui Southern Gas Company (SSGC), Sui Northern Gas Pipelines Limited (SNGPL) has submitted a request to hike gas prices, seeking a substantial increase of 147%.

SNGPL’s proposal, presented to the Oil and Gas Regulatory Authority (OGRA), aims to implement the price hike by July 1, with a requested increase of Rs2646.18 per Metric Million British Thermal Unit (MMBtu). The company advocates for fixing the new average gas price at Rs4446.89.

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Citing a revenue shortfall of Rs189.18 billion, SNGPL underscores the necessity for the price adjustment to address financial constraints.

Read also: SSGC Seeks OGRA Approval for Gas Price Hike

OGRA is scheduled to review Sui Northern’s petition on March 25 in Lahore, with further deliberations scheduled for March 27 in Peshawar.

It’s noteworthy that SSGC previously submitted a similar request to OGRA, seeking a further increase of Rs274.40 per MMBtu in gas prices. With both SSGC and SNGPL advocating for price adjustments, the gas market faces potential significant changes.

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Amir Shahzad
Amir Shahzad
Amir Shahzad is a experienced journalist with exceptional leadership skills. Graduated from University of Peshawar, he pitched number of acclaimed stories in the national news channels. At present, serving as senior reporter in a reputed news channel of Pakistan, Amir deliver a vast array of in-depth and informative news packages on country's most strenuous part Khyber Pakhtunkhwa (KPK) bordering Afghanistan. He loves reading and travelling.

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