Govt approves 4 LNG cargoes at up to $28

The government has approved the purchase of four liquefied natural gas (LNG) cargoes priced between $23.98 and $28.03 per million British thermal units (MMBtu) to address growing energy demand.

The Cabinet Committee on Government Purchase (CCGP) cleared the proposals during a meeting at the Bangladesh Secretariat, chaired by Finance Minister Amir Khosru Mahmud Chowdhury.

Three of the cargoes will be acquired through an international Request for Quotation (RFQ) process, while the fourth will be sourced from Aramco Trading Singapore under a government-to-government agreement.

Under the international procurement process, the 49th LNG cargo, scheduled for delivery on 25-26 September, will be supplied by Aramco Trading Singapore at $27.54 per MMBtu.

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The 50th cargo, scheduled for 1-2 October, will be purchased from BP Singapore Pte Ltd at $28.03 per MMBtu, while the 51st cargo, due on 5-6 October, will be supplied by Vitol Asia Pte Ltd, Singapore, at $26.6688 per MMBtu.

The committee approved the procurement of all three cargoes at the quoted prices.

Separately, the CCGP approved the purchase of another LNG cargo from Aramco Trading Singapore at $23.98 per MMBtu.

The additional cargo, scheduled for delivery on 10 September, will be procured under Clause 7.2(b) of the Short-Term LNG Sale and Purchase Agreement (LNG SPA) between Aramco Trading Singapore and Petrobangla under a government-to-government arrangement.

The cargo will be purchased as an “Additional Quantity” under the existing agreement.

The latest approvals come as Bangladesh continues to rely heavily on imported LNG to offset declining domestic gas production and maintain supplies to power plants, industries and other consumers.