BD PLANS TO IMPORT 18 LNG CARGOES FROM SPOT MARKET

Bangladesh has planned to import a total of 18 liquefied natural gas (LNG) cargoes from the spot market during the July-December period – 50 per cent higher than the January-June import.

State-run Petrobangla will be importing the augmented quantity of expensive fuel to cope with the mounting natural gas demand as the country’s domestic natural gas production is on wane and its long-term LNG suppliers have rejected pleas to increase LNG cargo delivery.

Bangladesh has been importing some 12 LNG cargoes from the spot market from January to June, 2022, said a senior official of the state-owned Rupantarita Prakritik Gas Company Ltd (RPGCL), a wholly-owned subsidiary of the state-run Petrobangla.

RPGCL, which deals with Bangladesh’s LNG imports, will be inviting bids from each of the listed suppliers to purchase LNG from the spot market.

Bangladesh imports around 138,000 cubic meters of LNG in each cargo from the spot market.

Separately, Bangladesh will be importing more than two dozens of LNG cargoes from long-term LNG suppliers during H2, 2022.

Currently, the RPGCL has 16 listed suppliers to purchase LNG from the spot market.

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