Govt to buy another cargo of LNG from spot market
The government has approved a proposal to import 32 lakh MMBTUs (million British thermal units) of liquefied natural gas from the spot market worth Tk574 crore.
The cabinet committee on purchase approved the proposal in a meeting chaired by Law Minister Anisul Huq on Tuesday (28 February).
The meeting gave its consent to the proposal of the Energy and Mineral Resources Division to buy the LNG from Swiss company Vitol.
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The cost of per MMBTU will be $16.10, which is lower than the previous purchase price.
Earlier on 14 February, the cabinet committee approved the import of 33.60 lakh MMBTU of LNG from the spot market at a cost of Tk690 crore. The cost of per MMBTU was $16.50.
The global energy crisis coupled with the local money crunch and dollar scarcity had forced Bangladesh to suspend spot LNG with an aim to reduce the forex bills.
Petrobangla has initiated to resume importing spot LNG in order to boost gas supply in different sectors including RMG, ceramics, power and steel for meeting the summer energy demand.
Sources at Petrobangla said it is going to import a minimum of 10 cargoes during the February-December period from the spot market.
