Bangladesh Secures 13-Year LNG Import Deal with US Firm

The government of Bangladesh has secured a 13-year agreement to import liquefied natural gas (LNG) from Gunvor USA LLC, a private US entity. The deal involves importing 78 cargoes of LNG, with six per year, starting in September this year and running through to 2039.

The total cost of the imports is estimated at Tk 714.95 billion, based on current market valuations. This works out to around $70 million per cargo, or approximately Tk 9.17 billion.

The agreement was approved in principle during a meeting of the Cabinet Committee on Economic Affairs, chaired by Minister for Finance and Planning Amir Khasru Mahmud Chowdhury.

Petrobangla will serve as the implementing body for this procurement. However, Energy Minister Iqbal Hassan Mahmood Tuku noted that Gunvor may not be granted the full 13-year term immediately, pending evaluation of their performance.