Bangladesh Govt Approves Purchase of Two LNG Cargoes Amid Gas Shortage

The government of Bangladesh has approved the purchase of two liquefied natural gas (LNG) cargoes from Singapore-based BP Singapore Pte Ltd to help alleviate an ongoing gas shortage in the country.

The first cargo is scheduled to arrive between August 23-24, while the second will arrive on September 4-5. The total cost of the two cargoes amounts to around Tk1,850.77 crore, with each costing approximately Tk927.51 crore and Tk923.27 crore respectively.

The approved prices for the two LNG cargoes are higher than the international market price, with an average Japan Korea Marker (JKM) price for LNG scheduled for delivery in August being $16.808 per million British thermal units (MMBtu).