With the previous one cancelled due to a high price quotation, state-run Rupantarita Prakritik Gas Company Ltd (RPGCL) has floated the tender again to purchase one spot LNG cargo for delivery to the Moheshkhali floating storage and re-gasification unit (FSRU) on October 11-12, according to a senior energy ministry official.
The deadline for submitting bids from a selected group of spot LNG suppliers is September 24, with validity until September 28, he told the FE.
Due to high pricing, the country's liquefied natural gas (LNG) tender evaluation committee previously called off a spot LNG cargo tender, which was set for delivery on October 1-2 to Moheshkhali FSRU, said the official on condition of anonymity, as he was not authorised to talk to the media.
The bidders had proposed a rate of around US$16 per million British thermal unit (MMBtu) for supplying the LNG cargo from the spot market. The committee deemed this price excessive, hence the cancellation, the official added.
Bangladesh previously awarded two spot LNG cargo tenders for deliveries on September 28-29 and October 25-26 to Moheshkhali FSRUs -- one to France's TotalEnergies and the other to Singapore's Vitol Asia.
TotalEnergies Gas & Power Ltd will provide around 3.36 million MMBtu of LNG at US$13.77 per MMBtu, while Vitol Asia will supply a similar volume of LNG at US$14.90 per MMBtu, reported by S&P Global Commodity Insights.
State-run Petrobangla has estimated to spend around Tk 5.95 billion (US$54 million) to purchase LNG from TotalEnergies and Tk 6.47 billion (US$58.8 million) from Vitol Asia, said the official.
With the spot LNG cargo scheduled for delivery on October 10-11, Bangladesh's total LNG imports from the spot market will reach nine since July, the official added.
The RPGCL -- a wholly owned subsidiary of Petrobangla -- has planned to import one LNG cargo each in November and December.
It will need to obtain fresh approval from the Energy and Mineral Resources Division (EMRD) to import two more spot LNG cargoes during that period.
The EMRD previously approved the RPGCL to import a total of nine LNG cargoes from the spot market between July and December of this year.
Separately, Petrobangla will import a total of five LNG cargoes during October, and four LNG cargoes each during November and December from its two long-term LNG suppliers-QatarEnergy (formerly Qatargas) and OQ Trading (formerly Oman Trading International), according to the annually delivery programme.
Since the initiation of spot LNG imports on September 25, 2020, Bangladesh has imported a total of 46 spot LNG cargoes until August 2023, according to official data from the RPGCL.
Despite payment delays, both long-term and spot LNG suppliers are continuing their supplies to the Bangladesh market, said sources.
azizjst@yahoo.com
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