Regulator cuts RLNG prices by 2.4pc.

ISLAMABAD -- The Oil and Gas Regulatory Authority (Ogra) on Friday notified about 2.4 per cent cut in the price of regasified liqueAfied natural gas (RLNG) for NovemAber as the international spot market remained out of reach for Pakistan and an average cost of cargoes under long-term contract slightly came down with world oil price.

The basket RLNG price was based on a total of 10 cargoes, nine under the two LNG contracts with Qatar and another from a private supplier - also under a long-term contract - and was worked out at $11.29 per million British thermal unit (mmBtu).

This included the cost of LNG delivery ex-ship (DES) of five cargoes from Qatar under the first LNG contract worked out at $12.55 per mmBtu at the rate of 13.37pc of Brent. The cost of four cargoes under the second contract also from Qatar were priced at DES $9.57 per mmBtu at the rate of 10.2pc of Brent. Another cargo was priced at $11.397 per mmBtu as it is indexed at the rate of 12.14pc of Brent.

According to a notification issued by Ogra on Friday, the average basket price for the supply of LNG at the import stage (delivered ex-ship) worked out at $11.29 per mmBtu for Pakistan State Oil's nine cargoes from Qatar in November compared to $11.56 per mmBtu a month earlier.

The import of LNG by Pakistan LNG Ltd (PLL) was priced at $11.39 per mmBtu in November compared to $11.856 per mmBtu for one cargo a month earlier.

The imported regasified liquefied natural gas to two gas companies - SSGCL and SNGPL - thus dropped by about 33 to 34 cents per mmBtu...