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IHC orders OGRA to issue RLNG price as per ECC guidelines

February 14, 2022 (MLN): The Islamabad High court (lHC), has ordered the Oil and Gas Regulatory Authority (OGRA) to issue RLNG prices as per ECC guidelines dated 27-06-2016.

Accordingly, OGRA notified RLNG Price for Jan and Feb 2022 in accordance with ECC Guidelines and allowed distribution UFG to Sui Southern Gas Company (SSGC) at 18.28%, SSGC in a notification to exchange informed today.

“This will not only improve the cash flows of the company but will also positively impact on UFG savings, which directly affect the profitability of SSGC,” company said.

To recall, on January 28, 2022, lHC ordered the suspension of RLNG price notification issued by OGRA dated 1-10-2021 and 12-10-2021 for the months of Sept and Oct 2021 being in contravention of IHC Order dated 01-09-2021, where IHC restrained OGRA from determining UFG of RLNG in a manner other than ECC guideline dated 27-6-2016.

OGRA on Saturday notified the revised price of Re-gasified Liquefied Natural Gas (RLNG) on networks of the Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) for January and February as per which the commodity rate for the current month has been determined at $13.3769 and $14.0783 per imported Million British Thermal Unit (MMBTU) RLNG on the systems of the SNGPL and SSGC respectively.

Copyright Mettis Link News

Posted on: 2022-02-14T16:15:18+05:00

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