Govt to import LNG worth Tk 429cr from int’l spot market

The government will import two cargoes of liquefied natural gas (LNG) from the international spot market at a cost of Tk429.40 crore.

A purchase proposal would be sent to the Cabinet Committee on Government Purchase meeting on Wednesday (January 31).

Sources from the department of Energy and Mineral Resources said that an initiative was taken to import the LNG from the spot market for the March next to ensure uninterrupted gas supply in the power, captive power, industrial and commercial sectors.

Singapore based company 'M/s Vital Asia Pte Ltd' will supply this cargo. It will cost Tk429.40 crore. It is the fourth cargo LNG import initiative this year. The cargo will supply around 33.60 lakh MMbtu, and its per unit cost will be $9.93.

The sources also said that earlier on January 22, the Cabinet Committee on Government Procurement approved a proposal to import a cargo of LNG from Switzerland-based company “TotalEnergies Gas and Power Limited” for the month of February. The company will supply the LNG at a cost of Tk 470.48 crore. The cargo will supply around 33.60 lakh MMbtu, and its per unit cost will be $10.88.

The Minister (Prime Minister) of the Ministry of Power, Energy and Mineral Resources has given nod to purchase 13 cargoes of LNG from the spot market from January to June 2024. Of them, four cargoes of LNG may be required in the March.