Bangladesh to import two LNG cargoes from Switzerland, Singapore at spot market rates

The procurement aims to meet summer demand and ensure stable gas supply

The government has decided to import two liquefied natural gas, or LNG, cargoes from Switzerland and Singapore at spot market rates, with a total cost of Tk 14.96 billion.

The decision was made at a meeting of the Cabinet Committee on Government Purchase at the Secretariat on Wednesday, presided over by Finance Advisor Salehuddin Ahmed.

When asked by journalists whether there was a risk of an energy crisis in the upcoming summer, Salehuddin said: “I don’t see any energy crisis. We are bringing in two cargoes and ensuring that the supply line remains intact. We will monitor the LNG supply in the market.”

As per the decision, Bangladesh will purchase 3.36 million MMBtu of LNG from Switzerland-based TotalEnergies Gas & Power at a cost of Tk 7.54 billion. The price per MMBtu has been set at $15.73.

Another cargo will be procured from Singapore-based Gunvor Singapore Pte Ltd at a cost of Tk 7.42 billion, with a price of $15.47 per MMBtu.