Commodities
Bangladesh Secures Lower Premium on LNG Cargoes from Gunvor USA
The Bangladesh government has secured a significant reduction in the price premium for 117 liquefied natural gas (LNG) cargoes to be imported from US-based Gunvor USA LLC. The Cabinet Committee on Government Purchase approved the revised proposal, which includes a lower premium of $0.0875 per MMBtu for the first 14 cargoes. This marks a sharp reduction from the initial quote of JKM plus $0.875 per MMBtu.
The deal is part of Bangladesh's planned long-term LNG purchases from the US under the energy and trade cooperation provisions of a trade agreement signed during the interim government. The government plans to import around $15 billion worth of US LNG over 15 years through long-term contracts.