In a move contrasting recent industry requests, the Oil and Gas Regulatory Authority (Ogra) in Pakistan has proposed a reduction in gas prices for the upcoming fiscal year (2024-25).
This proposal follows Ogra’s assessment of revenue requirements for Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC).
Ogra recommends a 10% decrease in the average gas price for SNGPL and a 4% decrease for SSGC. This translates to a proposed price reduction of Rs 179.17 per million metric British thermal units (mmbtu) for SNGPL gas and Rs 59.23 per mmbtu for SSGC gas.
The proposal currently awaits approval from the federal government. This comes after both SNGPL and SSGC requested significant price hikes earlier this year.