First LNG shipment of 2025 to cost $15 per unit

Singaporean company Vitol Asia will provide a shipment of 3.36 million MBtu of LNG between Jan 4-5

The first LNG shipment of the new year has been procured at an open market price of $15.02 per unit.

The proposal for the purchase was approved by the advisory committee on government procurement on Wednesday.

The agenda of the meeting shows that Singaporean company Vitol Asia will supply one cargo or 3.36 million MBtu of LNG at the price between Jan 4-5.

At $15.02 per unit, the total cost will be around Tk 7.09 billion.

Approval has also been provided to purchase 600,000 tonnes of Murban grade crude oil from Abu Dhabi's state-owned company Abu Dhabi National Oil Company, or ADNOC, for 2025 at a cost of Tk 52.08 billion.

Approval has been given to purchase 700,000 tonnes of Arabian Light Crude from Saudi Arabia's company Saudi Aramco at a cost of Tk 60.250 billion.

In addition, approval has been given to purchase refined fuel from Unipac Singapore, Singapore's Vitol Asia and OQ Trading of the United Arab Emirates for the months of January to June through the international quotation process. The contract’s value has been estimated at Tk 107.10 billion.

The meeting of the advisory committee also approved the purchase of 3.81 million litres of raw soybean oil through direct local procurement. The total cost is estimated at Tk 533.40 million taka at Tk 140 per litre. S Alam Super Edible Oil will supply the oil.

In addition, approval has been given to the purchase of 11 million litres of raw palm oil from the same company at Tk 130 per litre. This will cost a total of Tk 1.43 billion.

After the meeting, Finance Advisor Salehuddin Ahmed said: “We hold procurement committee meetings so frequently. We always approve essential or urgent items quickly. This is proof to you that this government keeps busy and has an eye to the welfare of the people. We have not seen such frequent meetings before.”

He said, “We process quickly and approve the items that need to be purchased logically. Today, we approved the purchase of various types of fertilisers. We also approved the purchase of LNG, lentils, and soybean oil.”