Govt to import 3 LNG cargoes worth Tk1,257

Ministry of Power, Energy and Mineral Resources is going to import three LNG cargoes through three separate international proposals.

The government will have to pay Tk1,256.93 crore to import the LNG cargoes. Three Singapore-based companies will supply these three cargoes of LNG.

Two floating LNG terminals with capacity of 500 mmcf and 600 mmcf per day have been set up at Maheshkhali in Cox's Bazar to meet the existing and increasing gas demand of the country.

Currently 2.5 MTPA of LNG from Ras Lafan Liquefied Natural Gas Company Limited (Qatar gas) and 1.0 MTPA of LNG from Oman Trading International (now OQT) are being imported under the agreement signed with Petrobangla on G-to-G basis through the two terminals.

Besides, LNG is also being purchased from the spot market to ensure the uninterrupted supply of gas to the electricity, industry and fertilizer factories in the country.

According to sources, 5 cargoes of LNG will be procured from the spot market in May 2024 for ensuring uninterrupted gas supply to power, captive power, industrial and commercial sectors.

It is noted that for the past few months, variations in the price of LNG have been noticed in the spot market. As a result, on March 25, an e-mail was sent from RPGCL inviting bids for supply of MSPA. Two companies responded to the call for quotations for the 13th cargo LNG in 2024.