OGRA approves 74% hike in natural gas prices

ISLAMABAD (PPI): Oil and Gas Regulatory Authority (OGRA) has approved a 74 per cent increase in the prescribed prices of natural gas for the 2022-23 fiscal year. According to details, the regulator allowed Sui Northern Gas Pipeline Limited (SNGPL) to increase prices by up to 74.42 percent. It also allowed Sui Southern Gas Company (SSGC) to increase gas prices by 67.75 percent for the year 2022-23.
The oil and gas regulator has approved increases of Rs406.28 and Rs469.28 per million British thermal units (mmBtu) for SNGPL and SSGC, respectively. OGRA further said that the average gas price for SNGPL would reach Rs952.17 per unit from the existing rate of Rs545.89 per mmBtu, while that of SSGCL would reach Rs1,161 per unit from the current Rs692.63 per mmBtu. Any revision as advised by the federal government shall be accordingly notified by OGRA. Till such time, the existing category-wise natural gas sale prices shall continue to prevail.
If the federal government fails to provide its recommendations on category- and slab-wise gas prices to Ogra within 40 days, the prescribed prices determined by the authority for each category and slab would stand automatically notified and the gas utilities would be bound to charge new rates.