Pakistan Hikes Regasified LNG Prices

Pakistan has hiked the price of regasified LNG (RLNG) this month, according to media reports in Pakistan.

The Oil and Gas Regulatory Authority (Ogra) has announced higher prices of RLNG for Sui Northern Gas Pipelines (SNGPL) and Sui Southern Gas Company (SSGC) customers. The former will pay $12.538/mn Btu in October compared with $12.2027/mn Btu in September; the latter will pay $12.9252/mn Btu in October, up from $12.5689/mn Btu, The News International reported October 10.

The increase was the result of higher crude oil prices and a sharp depreciation of the Pakistani rupee, the report said. The final price of the RLNG supplies to customers also includes terminal charges, transmission costs, port charges and the importers' margins: Pakistan State Oil and Pakistan LNG.

Pakistan started importing LNG in March 2015 with the commissioning of FSRU Exquisite at Port Qasim near Karachi. Pakistan commissioned its second FSRU late last year.