Petrobangla Eases Rules to Attract More Spot LNG Suppliers Amid Disruptions

Petrobangla has relaxed its rules to attract more spot liquefied natural gas (LNG) suppliers in Bangladesh, where severe gas shortages and rising global LNG prices are causing disruptions. The state-run corporation will now allow companies with just one successfully completed LNG supply contract and $50 million in financial capacity to enlist for new spot LNG supplies.

This is a significant relaxation of the experience, financial, and operational requirements introduced in March. The move comes at a difficult time for the country's LNG procurement, which has been affected by disruptions at floating LNG terminals, cargo delivery problems, and a global supply squeeze.

Petrobangla issued a fresh international invitation on August 29 to enlist more suppliers under 'revised criteria'. The new criteria require only one successfully completed LNG supply contract with no minimum delivery volume. Companies can meet the $50 million financial requirement through liquid assets, working capital, credit facilities, or bank solvency.