ISLAMABAD - The Oil and Gas Regulatory Authority (Ogra) Monday announced a reduction of up to 10.54 percent in the price of re-gasified liquefied natural gas (RLNG) for SSGCL and SNGPL for the month of January 2019.

A notification issued by OGRA here stated that the price of RLNG for consumers of SNGPL will be $11.038 per million British thermal units (mmbtu) and for consumers of SSGC at $11.3726 per mmbtu, for January 2019.

The prices for January have been reduced by $1.2607 per mmbtu (10.25 percent) for SNGPL and 1.339 per mmbtu (10.54 percent) for SSGC from December 2018.

For the month of December 2018, the price was $12.2987 per mmbtu for SNGPL and $12.7125 per mmbtu for SSGCL consumers. It is worth mentioning that last month too, the government had reduced the RLNG prices for SNGPL consumers by 3.38 percent to $12.2987 per mmbtu and for SSGC it was cut by 3.327 percent to $12.7125 per mmbtu.

The notified prices also include charges of the LNG terminals, transmission losses, port charges and margins of the importers i.e. Pakistan State Oil (PSO) and Pakistan LNG Limited (PLL).

These new RLNG weighted average sale prices for January 2019 have been computed, based on the 10 cargoes imported during the month of which six were imported by Pakistan State Oil (PSO) and four by Pakistan LNG Limited (PLL).

This LNG price is linked with the international crude oil prices, and it was expected that due to downward trends in international oil prices the local RLNG consumers will get relief.