Bangladesh Gas Crisis Worsens Amid Disrupted LNG Regasification

The gas crisis in Bangladesh has deepened as LNG regasification dropped to 300 million cubic feet per day (mmcfd) due to rough seas disrupting operations at one of two floating liquefied natural gas-regasification facilities. The regasification capacity fell by 750mmcfd from its peak, leaving industries, power plants, households, and other gas consumers in a state of crisis. Currently, the repaired FSRU owned by US's Excelerate Energy is supplying almost the entire volume of regasified LNG as regasification in the remaining one, owned by Summit group, dipped below 100mmcfd.

The country's overall gas supply has fallen below 2,000mmcfd. Saudi Arabia's Aramco Trading and Singapore Pte Ltd cargos have been stranded in the sea over the past couple of days due to rough weather conditions, failing to berth and deliver LNG to Summit's FSRU. However, relief is expected from August 16 when the rough seas will calm and another LNG cargo from Vitol Asia Pte Ltd will berth to deliver LNG.

According to officials, overall LNG regasification will come to around 800mmcfd, approximately 166.66-percent up from the current level of 300mmcfd, which is expected to ease the countrywide natural-gas crisis. The Bangladesh Meteorological Department has advised hoisting local cautionary signal-number three for the ports of Chattagram, Cox's Bazar, Mongla, and Payra due to rough seas.