Play store
The government is set to import five more cargoes of liquefied natural gas (LNG) this month to meet the country’s growing energy demand and help maintain stability in the gas supply system.
The five cargoes will contain around 16 million MMBtu of LNG, Bangladesh Oil, Gas and Mineral Resources Corporation (Petrobangla) Director (Finance) A.K.M. Mizanur Rahman said on Thursday.
He said the additional cargoes have been secured through a combination of spot-market purchases, long-term contracts and short-term agreements.
“Five more LNG cargoes have been secured for August to keep the gas supply system stable,” Mizanur Rahman said.
Bangladesh currently imports LNG through three channels—long-term contracts, short-term contracts and the spot market. Each cargo contains an average of around 3.2 million MMBtu of LNG.
A total of nine LNG cargoes are scheduled to arrive in Bangladesh this month, with four already delivered. The remaining five are expected to arrive on August 17, 21, 23, 27 and 30.
The nine cargoes together contain around 28.8 million MMBtu of LNG.
According to Petrobangla sources, one of the August cargoes was procured under a long-term agreement, five under short-term arrangements and three from the spot market.
In July, Bangladesh imported 11 LNG cargoes, containing around 35.2 million MMBtu, through long-term and short-term contracts and spot-market purchases.
According to the Rupantarita Prakritik Gas Company Limited (RPGCL), QatarEnergy and Oman’s OQ Trading supply LNG to Bangladesh under long-term agreements. OQ Trading also supplies LNG under short-term arrangements.
The government also regularly purchases LNG from the international spot market, subject to approval from the Cabinet Committee on Government Purchase.