The Oil and Gas Regulatory Authority (OGRA) has announced a reduction in imported liquefied natural gas (LNG) prices for the month of May, offering potential relief to consumers and the energy sector.

According to a notification issued by OGRA, the price of LNG for Sui Northern Gas Pipelines Limited (SNGPL) has been reduced by $1.68 per MMBtu, bringing the new price down to $11.79 per MMBtu.

Similarly, for Sui Southern Gas Company (SSGC), the price has been lowered by $1.71 per MMBtu, setting the new rate at $10.87 per MMBtu.

In comparison, the LNG prices in April stood at $13.47 per MMBtu for SNGPL and $12.59 per MMBtu for SSGC, reflecting a significant month-on-month decrease.

Asian countries, including Pakistan, seek increased US energy purchases to address trade imbalance

The price adjustment is seen as a result of easing global LNG prices, improved exchange rate stability, and lower import costs. Analysts believe this development could provide moderate relief to both domestic consumers and industries, especially as energy demand rises with the onset of summer.