Written by The Banking Post
State-run Rupantarita Prakritik Gas Company Ltd (RPGCL) has floated a fresh tender to buy an additional liquefied natural gas (LNG) cargo from the international spot market for delivery on November 25–26.
The shipment, estimated at around 3.36 million British thermal units (MMBtu), will be delivered to Moheshkhali Island, with the option to discharge at either of the country’s two floating storage regasification units (FSRUs) stationed there.
RPGCL had invited bids last week for three November spot cargoes but failed to finalise a supplier for the November 25–26 window after quoted prices came in higher than expected, a senior company official said.
If the latest tender succeeds, Bangladesh’s spot LNG purchases for November will total three cargoes. The country has already secured one spot cargo for December delivery.
Bangladesh imported four spot cargoes in October, three in September, and five in August. Its most recent deal went to Gunvor Singapore Pte Ltd at $11.85 per MMBtu for December 26–27 delivery.
Besides spot procurement, LNG is imported under long-term contracts with QatarEnergy LNG (formerly Qatargas) and OQ Trading International, and through short-term arrangements.
The country continues to ration gas supplies to industries, power plants, and other major consumers as overall demand exceeds supply. Combined production from domestic fields and imported LNG stood at about 2.83 billion cubic feet per day on September 9, including 1.05 Bcf/d of regasified LNG, against demand exceeding 4 Bcf/d, according to official data.
