Bangladesh Imports 18 LNG Cargoes from TotalEnergies Amid Energy Crisis

The Bangladeshi government has approved a deal to import at least 18 liquefied natural gas (LNG) cargoes from France's TotalEnergies over nine months. The decision aims to meet the country's urgent energy needs, exacerbated by the ongoing US-Israel war on Iran.

Under the agreement, two LNG cargoes will be delivered each month from October 2026 to June 2027 at a price linked to the Japan Korea Marker (JKM) index, plus $0.06 per million British thermal units (MMBtu). The indicative price of LNG from TotalEnergies works out to about $24.44 per MMBtu.

The government had earlier approved an emergency procurement deal with US-based Gunvor USA LLC for 117 LNG cargoes at a linked price of JKM plus $0.0875 per MMBtu, but this deal is subject to long-term supplies from Qatar being disrupted by the Middle East war.