The government will import 5 more cargoes of LNG this month

Photo: Collected

News Desk: The government will import five more cargoes of liquefied natural gas (LNG) this month, August. The total volume will be approximately 16 million MMBtu (million British thermal units).

AKM Mizanur Rahman, Director (Finance) of Bangladesh Oil, Gas and Mineral Resources Corporation (Petrobangla), said, “Five additional LNG cargoes have been secured for August to keep the gas supply system stable. These have been purchased under spot-market, long-term, and short-term contracts.”

He said Bangladesh regularly imports LNG from all three sources to meet the country’s growing energy demand. On average, each cargo contains approximately 3.2 million MMBtu of LNG.

Mizanur Rahman further said that a total of nine LNG cargoes will be imported in August. Four cargoes have already arrived in the country, while the remaining shipments will arrive later this month. The nine cargoes contain a combined total of approximately 28.8 million MMBtu of LNG.

According to Petrobangla sources, for August, one LNG cargo has been purchased under long-term contracts, five under short-term contracts, and three from the spot market. The remaining shipments are scheduled to arrive in Bangladesh on August 17, 21, 23, 27, and 30.

Previously, in July, Bangladesh imported a total of 11 LNG cargoes through long-term and short-term contracts as well as the spot market. The total volume was approximately 35.2 million MMBtu.

According to information from the Rupantarita Prakritik Gas Company Limited (RPGCL), Qatar-based QatarEnergy and Oman’s energy and commodities trading company OQ Trading supply LNG to Bangladesh under long-term contracts.

In addition, UAE-based OQ Trading supplies LNG to Bangladesh under short-term contracts.

It is worth noting that every month, subject to approval from the government’s procurement committee, Bangladesh also purchases LNG cargoes from the spot market.