Bangladesh Secures $15 Billion in Long-Term LNG Supplies from US Firm

Bangladesh has approved a long-term government-to-government agreement to import 117 liquefied natural gas (LNG) cargoes from US-based Gunvor USA LLC between 2026 and 2038.

The agreement, part of the energy and trade cooperation framework included in a trade deal signed between Bangladesh and the United States during the interim government, is expected to bring around $15 billion worth of US LNG into the country over 15 years through long-term contracts.

PetroBangla will sign the agreement with Gunvor, which will supply five LNG cargoes in 2026, six in 2027, and three in 2028, totalling 14 cargoes at the Japan-Korea Marker (JKM) plus $0.0875 per million British thermal units (MMBtu).

From 2029 to 2038, Gunvor will supply ten cargoes annually at 121% of the Henry Hub price plus $5.20 per MMBtu.