LAHORE: The Oil and Gas Regulatory Authority (Ogra) on Monday organised a public hearing on a Sui Northern Gas Pipelines Ltd (SNGPL) petition for the review of the estimated revenue requirement for 2022-23, seeking an increase in the average prescribed gas price by Rs488.08 per mmBtu from July 1.

The petition was filed on Oct 14 before the authority for the review of its estimated revenue requirement/prescribed prices for 2022-23.

`The SNGPL, instead of seeking an increase in the gas price, should reduce its expenses,` an official source in the hearing quoted a representative of the industry as having said.

`The company should also control gas theft (unaccounted-for gas-UFG losses).

Moreover, it should ensure uninter-rupted gas supply to the industry to keep the wheel of business running and create jobs for the unemployed people.

In the instant petition, SNGPL projects a shortfall in revenue requirement of Rs178.814bn, including Rs445m on account of the LPG air-mix project for FY23, and seeks an increase in its average prescribed price by Rs488.08 per mmBtu effective July 1.

The petitioner also included Rs295.268bn, a shortfall from previous years, thereby seekinga totalincreasein the average prescribed price by Rs1,294.02/mmBtu. Besides the above, the petitioner has estimated the RLNG cost of service at Rs1,015.64/mmBtu including Rs762.44/mmBru on account of the differential impact of the RLNG diversion.-Staff Reporter