Bangladesh Seeks Four New Spot LNG Cargoes Amid Ongoing Shortage
Bangladesh's state-run Petrobangla has floated four new tenders to purchase spot liquefied natural gas (LNG) cargoes for delivery in September and October, as both of its floating storage and regasification units (FSRUs) are now operational.
The country reissued a tender for a cargo to be delivered during the September 8-9 window after the previous tender was cancelled due to higher-than-expected prices from selected limited suppliers.
Petrobangla has so far purchased 47 LNG cargoes from the spot market this year, with 45 of them acquired after the Middle East war broke out. Bangladesh is currently struggling to meet its gas demand amid elevated LNG prices and restricted scheduled cargo deliveries from contracted long-term suppliers.
The country's overall natural gas supply stood at about 2,307 million cubic feet per day (mmcfd) on August 30, while national gas demand is estimated at around 4,000 mmcfd, leaving a shortfall of nearly 1,700 mmcfd. State-run Petrobangla has been rationing gas supplies to industries and power plants to cope with the shortage.