Bangladesh Approves $9.49 Billion LNG Purchase Amid Nationwide Shortage
The government of Bangladesh has approved the purchase of one spot cargo of liquefied natural gas (LNG) from Vitol Asia Pte Ltd to help ease the ongoing nationwide gas shortage.
The LNG cargo, priced at $22.35 per million British thermal units (MMBtu), is scheduled to arrive on August 15-16 and will be procured through the Request for Quotation (International) method under Rule 105(3)(a) of the Public Procurement Rules, 2025.
The shutdown of the Excelerate Energy-operated floating storage and regasification unit (FSRU) at the Moheshkhali LNG terminal due to an accident on July 21 has caused a significant reduction in gas supply to the national grid. The FSRU's partial operation is expected by Sunday, with one boiler potentially starting re-gasifying around 300 million cubic feet per day (mmcfd) of LNG.
The delivery of at least two spot LNG cargoes was affected due to the abrupt shutdown of the FSRU on the Moheshkhali island in the Bay of Bengal. The vessels carrying Gunvor Singapore Pte Ltd and TotalEnergies Gas & Power Ltd's LNG remained stranded in the sea since July 21 and July 26, respectively.