Advertisement
Advertisement

Govt approves purchase of nine LNG cargoes

Govt approves purchase of nine LNG cargoes
File photo: Collected
Advertisement
Advertisement
Advertisement
Advertisement

Bangladesh has approved the purchase of nine liquefied natural gas (LNG) cargoes for delivery between December 2026 and December 2027 as the country seeks to secure fuel supplies amid persistent domestic gas shortages and rising energy demand.

The Cabinet Committee on Government Purchase approved the proposal on Tuesday for Trafigura Pte Ltd to supply the cargoes under a government-to-government arrangement, according to a Finance Ministry statement issued on Wednesday.

The LNG will be priced against the Japan Korea Marker (JKM), a regional benchmark for spot LNG prices, at a discount of $0.10 per million British thermal units (MMBtu), the statement said.

The number of cargoes may vary following further discussions, it added.

The purchase comes as Bangladesh increasingly relies on imported LNG to supplement declining domestic gas production and meet demand from power plants, industries and other consumers. Persistent supply shortfalls have put pressure on gas-dependent industries, including the garment sector, while exposure to international LNG prices has increased the importance of securing supplies on favourable terms.

Follow TIMES on Google News

Get trusted updates and editor-picked stories in your feed.

Follow
Related News