Bangladesh Extends Bid Timeline for Spot LNG Suppliers Amid Growing Interest
Bangladesh is extending its bid timeline for spot liquefied natural gas (LNG) suppliers as more companies show interest in providing fuel to the country. The initial deadline was September 15, but it has been extended until October 6 to accommodate new applicants.
Petrobangla floated an invitation for enlistment on August 29 and received applications from potential suppliers. The goal is to expand the pool of approved international LNG suppliers as Bangladesh relies increasingly on the spot market due to disruptions in contractual supplies.
The government aims to attract more bidders and lower procurement costs by expanding the number of listed suppliers. Currently, only a handful of suppliers regularly participate in spot LNG tenders.
Bangladesh has imported around 50 LNG cargoes from the spot market since September to mitigate potential shortages after supplies from the Middle East were restricted due to navigation disruptions in the Strait of Hormuz.