Ogra sets RLNG sale price at $13.22 per unit

The Oil and Gas Regulatory Auth­ority (Ogra) on Friday set the average sale price of re-gasified liquefied natural gas (RLNG) at about $13.22 per million British thermal unit for the current month, an increase of 2.33 per cent from last month’s $12.91 per unit.

The regulator had last week notified the RLNG sale price at $13.61 for August, about 5.5pc higher than that of July, which included the cost of most expensive spot cargo at $20.55 per unit (27.87pc of Brent). Pakistan State Oil (PSO) disowned its cargo, saying it had scrapped the bid. As a result, Ogra withdrew its notification a day later and cancelled the sale price.

On Thursday, the PSO reported that it had received a revised bid of $15.93 per unit (22.13pc of Brent) from Qatar Petroleum for a cargo to be delivered on Aug 29-30.

The regulator, therefore, issued a fresh notification and fixed the revised average RLNG sale price at $13.22 per unit.