LNG Prices Soar as Bangladesh Turns to Spot Market

LNG prices have tripled in Bangladesh as the country turns to the spot market for imports.

The Financial Express reports that the increase is due to a shortage of gas supply from domestic sources, forcing Bangladeshi companies to seek alternative markets.

Roy Ramesh Shome, Managing Director of Petrobangla, attributed the surge in prices to the increased demand for LNG in other countries, making it difficult for Bangladesh to secure supplies at competitive rates.