The Oil and Gas Regulatory Authority (OGRA) has announced a reduction in LNG prices. The LNG price for June 2023 has been reduced by $0.71 per MMBtu, according to OGRA notification.
Islamabad: The Oil and Gas Regulatory Authority (OGRA) has announced a reduction in LNG prices for the month of June 2023 and issued its notification.
OGRA’s notification stated that Liquefied Natural Gas ( LNG ) price for the Sui Northern Gas Pipeline Limited (SNGPL) has been reduced by $0.68 per MMBtu, while LNG on the Sui Southern Gas Company (SSGC) has been reduced by $0.71 per MMBtu, the authority said.
The new LNG price on the Sui Northern Gas Pipeline Limited has been set at $12.71 per MMBtu. Similarly, the new price of LNG on the Sui Southern Gas Company has been fixed at $12.94 per MMBtu.
According to the Economic Survey Report 2023-2022, the consumption of petroleum products by the domestic sector decreased by 45.36% and the consumption of petroleum products by the transport sector decreased by 19.82%.
Finance Minister Ishaq Dar, while presenting the Economic Survey report, said that the fall in the value of the rupee has increased inflation, and the dollar will soon return to its original value. Bloomberg said that the value of the dollar should be Rs.245, and the general public should avoid hoarding dollars and gold.