Dhaka: The government has paid $360.99 million for 11 cargos of Liquefied Natural Gas (LNG) totaling around 3.52 crore MMBTu in November. This move aims to ensure energy security while meeting the country’s growing energy demand.
According to Bangladesh Sangbad Sangstha, Petrobangla Director AKM Mizanur Rahman stated that Bangladesh is regularly importing LNG under long-term and short-term agreements, as well as from spot markets, to cater to the increasing energy needs. In October, the country received nine cargos of LNG, totaling approximately 2.88 crore MMBTu through these agreements and markets.
Rahman further detailed that the government procured 10 cargos of LNG, amounting to around 3.20 crore MMBTu under similar agreements. Each cargo averaged 32 lakh MMBTu.
Petrobangla reported that QatarEnergy received $115.97 million for four cargos, while Oman’s OQ Trading (OQT) was paid $55.28 million for two cargos under long-term deals. Additionally, OQT received $75.21 million for two cargos under short-term agreements, and the government acquired three cargos from spot markets for $114.53 million.
Furthermore, petroChina International received $38.08 million for one cargo, and TotalEnergies Gas and Power was paid $76.45 million for two cargos in November from spot markets.
The purchase committee’s adviser’s council approved separate proposals for importing LNG to meet the country’s gas demand. During a recent meeting, the finance adviser emphasized enhancing the LNG supply side while reducing government pressure. The adviser also noted that the government is acquiring LNG at a relatively reasonable price from the international market.