Bangladesh to Directly Purchase Eight LNG Cargoes Amid Energy Crunch

The government of Bangladesh has decided to directly procure eight LNG cargoes to meet emergency domestic energy needs. This decision was made at the 24th meeting of the Cabinet Committee on Economic Affairs, where four separate proposals from the Energy and Mineral Resources Division were approved.

According to sources, two cargoes each will be procured from four international companies: Blackcube International Ltd (UK), Global Fuel Supplies Pte Ltd (Australia), Plentitude Energy Sdn Bhd (Malaysia) and Maxwell International SPC (Oman). The direct procurement route was chosen to safeguard national energy security and avert a potential gas supply crisis.

The committee also approved a proposal to import 5,000 tonnes of liquefied petroleum gas (LPG) from Speed Marketing Corporation under the Direct Procurement Method (DPM) to help stabilise the domestic market. The LPG will be procured at Saudi Aramco's contract price plus $97 per tonne on a cost-and-freight basis.