LAHORE: OGRA has set the estimated revenue requirements for needle companies for the financial year 2024-25, which includes a 10% reduction in gas prices.
The Oil and Gas Regulatory Authority (OGRA) has released a notification outlining the revenue requirements for oil companies for the financial year 2024-25. According to the notification, the average proposed gas price for SNGPL is Rs 1635.90 per mmbtu. This represents a decrease of 10%, or Rs 179.17 per mmbtu. The financial impact of last year’s rupee shortfall is Rs 862,612 million as claimed by SNGPL, compared to Rs 580,585 million according to OGRA. This matter has been referred to the federal government for an appropriate policy decision and has not been included in this determination.
Similarly, the average proposed price for SSGCL has been set at Rs 1401.25 per mmbtu, reflecting a reduction of Rs 59.23 per mmbtu, or 4%.
A consultation with the federal government has been requested regarding the category-wise selling prices. Any revisions will be notified by OGRA based on the federal government’s advice. Until then, the current category-wise selling prices of natural gas will remain unchanged.