Govt to buy LNG from int'l spot market with open tender
The Cabinet Committee on Economic Affairs approved a proposal in principle to this effect in a meeting on Wednesday
The government will now purchase liquefied natural gas (LNG) from the international spot market through open tender instead of negotiation – a practice followed for years under the Sheikh Hasina regime.
The Cabinet Committee on Economic Affairs approved a proposal in principle to this effect in a meeting on Wednesday.
Finance and Commerce Adviser Salehuddin Ahmed, who presided over the meeting, said the interim government will procure LNG through open tender.
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The Energy and Mineral Resources Division presented the proposal, which sought approval to import LNG from 23 listed companies in the international spot market.
The adviser noted that while these 23 companies were enlisted by the previous Awami League government and had signed Master Sales and Purchase Agreements, their status will remain unchanged.
He mentioned that instead of applying the Speedy Increase of Energy and Power Supply (Special) Act 2010, the interim government will adhere to the Public Procurement Rules 2008 to ensure a competitive bidding process.
"We don't want to change them as we aim to import LNG quickly while ensuring proper competition among suppliers," he told reporters.
The committee also approved another proposal in principle to sign a contract for importing urea fertiliser for the fiscal 2024-25 from Fertiglobe Distribution Limited, UAE, on a government-to-government (G-to-G) basis.
