ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has been compelled to hold a public hearing to revise the past 10-year prices of Regasified Liquefied Natural Gas (RLNG) following agitation and litigation by various consumer groups. The revision involves an additional financial impact estimated at around Rs150 billion.

Under court directions, Ogra will hold a hearing on Nov 6 to “actualise” RLNG prices from April 2015 onwards. The regulator has been issuing monthly RLNG sale prices to Sui Northern Gas Pipelines Ltd (SNGPL) and Sui Southern Gas Company Ltd (SSGCL) on a provisional basis without public consultation, despite requirements under the Ogra Ordinance and government policy guidelines.

According to Ogra’s notice, the RLNG prices have been determined based on various cost components, including imported gas quantities, transmission and distribution losses, port and terminal charges,........

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