BD to buy one cargo of LNG from spot market in Feb

The government will buy one cargo of liquefied natural gas (LNG) from the spot market next month (February), said sources.

State-run Rupantarita Prakritik Gas Company Ltd (RPGCL) floated a tender for February 6-7 delivery of the fuel at any of the country's two FSRUs on Moheshkhali island, a senior Petrobangla official told the FE on Saturday.

The RPGCL, a wholly-owned subsidiary of state-run Petrobangla, deals with LNG trading in Bangladesh.

The tender was floated on January 9 and the bid closing date is January 14, said the RPGCL official.

With the arrival of this consignment, the LNG imports from the spot market this year will be three cargoes, he said. During this month (January), two LNG cargoes are scheduled to be delivered from the spot market.

Bangladesh previously awarded one spot LNG cargo to Excelerate Energy LP for January 17-18 delivery to one of the two FSRUs on Moheshkhali island.

The US company will supply around 3.36 million MMBtu of LNG at a cost of US$12.54 per million British thermal unit (MMBtu).

Separately, Bangladesh is likely to import a total of three LNG cargoes in February- two from QatarEnergy, previously known as Qatargas, and one from OQ Trading, according to Petrobangla.

Despite payment delays, Bangladesh is continuing LNG imports from both long-term and spot suppliers, the official said.

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