The Cabinet Committee on Government Purchase on Wednesday approved the import of two liquefied natural gas (LNG) cargoes and several consignments of fertilisers to meet the country's growing energy and agricultural needs.
Briefing reporters after the meeting, Cabinet Secretary Nasimul Ghani said the Energy Division had proposed purchasing three LNG cargoes through the international quotation method.
However, the committee decided to approve only two cargoes for now and monitor market developments, as global LNG prices have been declining amid easing tensions in the Middle East.
According to Cabinet Division documents, the procurement of the two LNG cargoes will cost the government Tk 14.09 billion.
Mr Ghani said the ongoing crisis in the Strait of Hormuz has created challenges for Bangladesh in securing LNG supplies, as some long-term LNG and energy suppliers have invoked force majeure clauses, disrupting deliveries.
As a result, the government has increasingly relied on the spot market to secure LNG and other petroleum products.
The committee also approved the import of 50,000 tonnes of urea fertiliser from Delta Star Trading of the UAE under the direct purchase method.
The procurement will cost Tk 3.485 billion, with each tonne priced at US$707.
In addition, the committee approved the import of 25,000 tonnes of bulk granular urea fertiliser at a total cost of Tk 1.85 billion, with each tonne costing $600.
The meeting also cleared the import of 15,000 tonnes of crude rock sulphur at a cost of Tk 1.71 billion.
syful-islam@outlook.com