Pakistan Announces Record Increase in LNG Prices for July
Islamabad: Pakistan has announced the largest increase in Liquefied Natural Gas (LNG) prices in the country’s history, following a sharp rise in import costs.
According to a notification issued by the Oil and Gas Regulatory Authority (OGRA), the LNG sale price for July has been increased by up to $6.45 per MMBtu.
Under the revised rates, the LNG sale price has been set at $25.83 per MMBtu for consumers on the Sui Northern Gas Pipelines Limited (SNGPL) system, while the price for the Sui Southern Gas Company (SSGC) system has been fixed at $25.80 per MMBtu.
The significant increase is attributed to heightened tensions in the Middle East, which forced Pakistan to purchase five expensive spot LNG cargoes during July.
As a result of the higher import costs, the LNG sale price for July has risen sharply compared with June, marking a record monthly increase.
