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Amid an unstable geopolitical situation following the ongoing war involving the United States, Israel and Iran, the Bangladesh government has approved the purchase of liquefied natural gas (LNG) from four companies to meet the country’s urgent gas demand.
Of the total purchases, 117 LNG cargoes will be procured from a US company under a 12-year government-to-government (G2G) agreement, while six cargoes will be purchased directly from three other companies.
The proposals were approved at a meeting of the Cabinet Committee on Government Purchase held on Wednesday, August 12, chaired by Finance Minister Amir Khosru Mahmud Chowdhury. The Energy and Mineral Resources Division placed the proposals at the meeting.
Under the decisions, two LNG cargoes will be purchased from the UK-based Blackcube International Limited at $15.50 per million British thermal units (MMBtu), while two cargoes will be purchased from Oman’s Maxwell International SPC at the JKM index plus $0.54 per MMBtu.
The committee also approved the direct purchase of two LNG cargoes from Hong Kong-based Zhenyu Shipping Company Limited in 2026 at $14.95 per MMBtu.
Meanwhile, the government approved the purchase of 117 LNG cargoes from Gunvor USA LLC of the United States from 2026 to 2038 under a G2G arrangement.
Under the agreement, Bangladesh will purchase five cargoes in 2026, six in 2027 and three in 2028 at the JKM index plus $0.0875 per MMBtu.
Another three cargoes will be purchased in 2028, while 10 cargoes will be purchased annually from 2029 to 2038. The price of these LNG shipments will be determined at 121 percent of the Henry Hub (HH) index plus $5.20 per MMBtu.
