KARACHI (Kashmir English): The Oil and Gas Regulatory Authority (OGRA) has increased the prices of liquefied natural gas (LNG) by up to 28%.
OGRA has issued a notification for the increase in LNG prices for May.
According to the notification, the price of LNG on the Sui Southern system has increased by $3.51 per MMBTU. The new price of LNG for Sui Southern has been set at $16.04 per MMBTU.
LNG on the Sui Northern system has been increased by $3.43 per MMBTU. The new price of LNG on the Sui Northern system has been set at $16.98 per MMBTU.
Pakistan bans new LNG gas connections amid supply pressure
Earlier, New LNG-based gas connections have been banned in the country amid supply pressure due to the US-Iran war.
The Ministry of Petroleum has banned gas connections across the country after Pakistan’s gas crisis intensified due to the Iran-US conflict.
According to officials, the ban will apply to both domestic and commercial consumers, while the connection process may resume after two weeks if the supply situation improves.
The ministry said action on applications for new connections would start again if the situation improves after two weeks.
The Strait of Hormuz is a key route for global energy shipments, and its closure has put pressure on Pakistan’s LNG supply situation. The gas crisis in the country has deepened as regional tensions continue to hit energy sector.
The federal government had lifted ban on new gas connections a few months earlier. New connections were being provided through RLNG instead of the older gas supply system.
According to sources, RLNG connections are almost four times more expensive than old gas connections.
