The Oil and Gas Regulatory Authority (Ogra) has announced a reduction in Liquefied Natural Gas (LNG) prices for the month of December, providing relief to consumers and industries. According to the notification issued by Ogra, the prices of LNG have been reduced by 5.90%.

The notification stated that the price of LNG on the Sui Southern Gas Company system has been reduced by $0.68 per mmbtu, after which the new price has been fixed at $10.78 per mmbtu.

Similarly, LNG on Sui Northern Gas Pipelines Limited’s network has been cheaper by $0.57 per mmbtu, and there too the new price has been set at $10.78 per mmbtu.

Energy experts say that the benefit of stabilisation of gas prices in the global market is now being passed on to local consumers.