The government has decided to procure six new liquefied natural gas (LNG) cargoes to address the increasing energy demand in the country. This decision was made at the 44th meeting of the Cabinet Committee on Government Purchase held on Sunday. The meeting approved three proposals from the Energy and Mineral Resources Division aimed at securing additional LNG supplies.
Under the first proposal, the government will procure two LNG cargoes through the international quotation process. These cargoes are scheduled for delivery on October 9-10 and October 27-28, 2026. The quoted prices for these cargoes ranged from $28.95 to $29.795 per million British thermal units (MMBtu). Total Energies Gas & Power Ltd, UK, quoted $28.95 per MMBtu for the 52nd cargo, while Vitol Asia Pte Ltd, Singapore, quoted $29.795 per MMBtu for the 56th cargo.
The second proposal involves procuring two cargoes of LNG from DARAB Inc., USA, through the direct procurement method at $17.00 per MMBtu. Similarly, under the third proposal, Mind Mingle LLC, USA, will supply two cargoes of LNG through the direct procurement method at $19.00 per MMBtu. These procurements are crucial as Bangladesh faces a growing demand for energy, driven by both industrial growth and domestic consumption.
The decision to procure additional LNG cargoes underscores the government's commitment to ensuring a stable energy supply. LNG is a critical component of Bangladesh's energy mix, providing a cleaner and more efficient alternative to traditional fossil fuels. The procurement process involves rigorous evaluation to ensure the best possible terms and conditions for the country.
The increasing demand for energy in Bangladesh is a reflection of the country's economic growth and development. As industries expand and the population grows, the need for reliable and affordable energy sources becomes more pressing. The government's proactive approach in securing additional LNG cargoes is a step towards meeting these demands and ensuring sustainable development.
