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Pakistan hikes price of regasified LNG
Aug 3, 2021 7:25:am
Summary
by: Shardul Sharma
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Pakistan hikes price of regasified LNG
Pakistan’s Oil and Gas Regulatory Authority (OGRA) has increased the price of regasified LNG for customers of gas companies Sui Northern Gas Pipelines and Sui Southern Gas Company for August, according to local media reports published on August 3.
OGRA has increase the price for gas from Sui Northern by 5.36% versus the rate in July, while the price for supplies from Sui Southern has gone up by 5.59%,
The Express Tribune reported. Customers of Sui Northern will pay $13.6/mn Btu in August while Sui Southern customers will have to shell out $13.34/mn Btu.
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This comes at a time when the energy sector is facing serious gas and electricity shortages and both gas and power companies are struggling with their financials to ensure smooth supplies. Reuters/File
ISLAMABAD: Amid system challenges, the Petroleum Division is seeking an average national basket price for natural gas both local and imported through a distant ‘political consensus’ even though it has fixed price commitments with various consumer groups.
This comes at a time when the energy sector is facing serious gas and electricity shortages and both gas and power companies are struggling with their financials to ensure smooth supplies. The federal government has been asking the provinces for introduction of weighted average cost of gas (WACOG) by moving away from ring-fenced pricing and supply of local gas and imported liquefied natural gas (LNG) to various consumer categories.
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KSE-100 index retreats in short week
Eid holidays, rising Covid-19 cases hamper activity at Pakistan Stock Exchange
KARACHI:
Lack of positive triggers at the Pakistan Stock Exchange (PSX) kept the bulls at bay as the benchmark KSE-100 index witnessed lifeless trading and closed almost flat. The index was down 41 points or 0.1% during the shortened trading week to close at 47,793.07.
The market managed to finish one session out of the two sessions in the green during the week. The stock market remained closed for three days on account of Eidul Azha holidays.
Trading was subdued with volumes remaining low throughout the week as the upcoming results season forced market players to trade cautiously. The week kicked off on a positive note, in line with the performance in the previous week. Trading, however, remained lacklustre as investors avoided taking fresh positions ahead of the three-day-long holidays (Tuesday-Thursday).
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