Bangladesh Secures LNG Cargoes Amid Energy Crisis Fears

The Bangladeshi government is urging citizens to conserve fuel due to an impending energy crisis. The country has secured two LNG cargoes from the international spot market, but at more than double the normal rate.

One cargo will be delivered at $24.5 per one million British Thermal Units (MMBtu) by VitolAsia and another at $28 per MMBtu by Gunvor. Each shipment would cost about Tk 1,300 crore compared to about Tk 500 crore previously.

The government has called for conservation of natural gas and fuel oil, urging people to shun panic buying and fuel hoarding. The country currently has a sufficient stock of petrol, octane, and diesel, but the government is taking precautionary steps to conserve energy.