Bangladesh Imports Record-Price LNG Cargoes from South Korea, UK

The Bangladeshi government has approved two large-scale imports of liquefied natural gas (LNG) at record prices to meet the country's growing demand for gas. The Cabinet Committee on Government Purchase, chaired by Finance Minister Amir Khosru Mahmud Chowdhury, approved the proposals to import two LNG cargoes from South Korea and the UK through the international quotation process.

The first cargo will be imported from Posco International Corporation of South Korea at $24.625 per million British thermal units (MMBtu) for delivery on September 13-14. The second cargo will come from Total Energies Gas and Power Ltd of the UK at $24.25 per MMBtu for delivery on September 23-24.

The government is stepping up LNG imports to meet the country's growing gas demand, particularly for power generation and industrial consumption. Bangladesh continues to rely heavily on imported LNG due to a shortage of domestic natural gas resources.