Pakistan’s Oil and Gas Regulatory Authority (OGRA) announced a significant reduction in liquefied natural gas (LNG) prices for May. It provided much needed relief to consumers ahead of the peak summer season.
The authority reduced rates by $1.68 per MMBTU for Sui Northern Gas Pipelines Limited (SNGPL). Which setteled the new price at $11.79. Similarly, Sui Southern Gas Company (SSGC) saw a $1.71 drop, bringing its rate down to $10.87 per MMBTU.
These reductions reflect a notable decline from April’s rates of $13.47 (SNGPL) and $12.59 (SSGC). Energy analysts welcomed the move, noting that lower LNG costs could ease power generation expenses, particularly as electricity demand surges in summer.
The adjustment mirrors recent global market trends and may contribute to stabilizing domestic energy prices. However, the full impact on consumer utility bills remains to be seen as the new rates move through the energy supply chain.