Bangladesh Buys LNG at Record High Amid Middle East Conflict
The government of Bangladesh has approved the purchase of liquefied natural gas (LNG) at nearly three times the pre-conflict price. Before the US and Israeli attacks on Iran began, LNG was priced at around $10 per million British thermal units (MMBtu).
However, in recent days, the government has been importing LNG at nearly $30/MMBtu. The Cabinet Committee on Government Purchase approved the import of one LNG cargo from Singapore-based Vitol Asia Pte Ltd for delivery on 27-28 October at a price of $29.795 per MMBtu.
The committee also approved the direct purchase of two LNG cargoes from US-based DARAB Inc at $17 per MMBtu and two cargoes from US-based Mind Mingle LLC at $19 per MMBtu, as well as an import from UK-based TotalEnergies Gas & Power Ltd for delivery on 9-10 October at $28.95 per MMBtu.