Tenders floated to buy 3 spot LNG cargoes in April
Sunday, 16 March 2025
FE REPORT
Bangladesh's state-run Rupantarita Prakritik Gas Company Ltd (RPGCL) intends to buy three spot liquefied natural gas (LNG) cargoes by mid-April to meet mounting demand for summer.
The RPGCL has already floated tenders for April 01-02, April 12-13 and April 14-15 delivery windows, a senior RPGCL official told The Financial Express Saturday.
The RPGCL might float more tenders to buy spot LNG cargoes in April, which is considered the hottest month of summer in Bangladesh, said the official.
The country's energy demand is expected to go up from early April and subsequent months with the rise of mercury, he added.
Bangladesh bought four spot LNG cargoes for March delivery windows.
The bid winners will deliver the LNG cargoes at Moheshkhali island in the Bay of Bengal, with options to discharge the cargo at either of the country's two floating storage re-gasification units (FSRUs) located on Moheshkhali island.
The RPGCL, a wholly owned subsidiary of state-run Bangladesh Oil, Gas, and Mineral Corporation, or Petrobangla, looks into LNG trades in Bangladesh.
The volume of each of the spot LNG cargo will also be around 3.36 million MMBtu.
Bangladesh previously awarded its latest spot LNG cargo tender to Excelerate Energy LP for March 25-26 delivery window at US$14.30 per million British Thermal unit (MMBtu).
Bangladesh currently imports LNG from Qatar Energy and OQ Trading international under long term deals and purchases LNG also from the spot market to re-gasify LNG in its two operational FSRUs having the total capacity of 1.10 billion cubic feet per day (Bcfd). The country has been reeling from an acute energy crisis as its natural gas output is depleting.
Bangladesh has been rationing gas supply to industries, power plants and other gas-guzzling industries to cope with the mounting demand.
The country's overall natural gas supply is currently hovering around 2,888 million cubic feet per day (mmcfd), including 991 mmcfd of re-gasified LNG against the demand for over 4,000 mmcfd, according to official data of petrobangla as on March 14.
Azizjst@yahoo.com