The Oil and Gas Regulatory Authority (OGRA) has announced new selling prices of imported liquefied natural gas (LNG) for July. According to the new prices, the sale of LNG has increased significantly, the main reason for which is being attributed to the increase in import costs in the global market.
According to a notification issued by OGRA, the selling price of LNG on the Sui Northern Gas Pipelines (SNGPL) system has been fixed at $25.83 per MMBTU, while for the Sui Southern Gas Company (SSGC) this price will be $25.80 per MMBTU.
According to the regulatory authority, during July, Pakistan had to purchase five spot LNG cargoes from the global market at a relatively high price. The ongoing tension in the Middle East and the uncertainty in the global energy market led to an increase in import costs, which also affected local selling prices.
Energy experts say that due to global geopolitical tensions, supply disruptions and increasing demand for fuel, LNG prices continue to fluctuate. In such circumstances, countries dependent on imported energy may face additional financial burden.
According to experts, if the current trend in crude oil and LNG prices in the global market continues, the cost of energy imports may be further affected in the coming months. However, future prices will depend on global supply, demand and the geographical situation of the region.
After the new prices issued by OGRA, the eyes of the industrial, commercial and energy sectors are focused on the global market, as the cost of importing LNG can directly impact the country’s energy costs and economic activities.