Dhaka: The government has approved a proposal to purchase three LNG cargoes from the international spot market for delivery in early April, aiming to ensure energy security in the country. The approval was granted during the 8th meeting of the Cabinet Committee on Government Purchase, chaired virtually by Finance Minister Amir Khosru Mahmud Chowdhury.
According to United News of Bangladesh, the Energy and Mineral Resources Division proposed the procurement through the international quotation method. Total Energies Gas and Power Ltd., UK, will supply one cargo of LNG at $21.58 per MMBtu, while Posco International Corporation of South Korea will supply two cargoes at $20.76 per MMBtu each. The estimated costs for the LNG cargoes are Tk 907.84 crore, Tk 873.34 crore, and Tk 873.34 crore, respectively.
The committee approved the LNG procurement proposals to ensure an uninterrupted gas supply for power generation and industrial activities in the country. Officials stated that the government continues to procure LNG from the spot market to meet growing domestic demand and maintain stability in the national energy supply system.