Bangladesh procures LNG at a cheaper rate as global prices fall

The government is purchasing liquefied natural gas from the open market at a lower price than the previous month due to falling prices on the international market.

The Cabinet Committee on Government Purchase approved the procurement of 3.36 million metric million British thermal units (mmBtu) of LNG from Singapore’s Vitol Asia Pte Ltd on Wednesday. 

The meeting was chaired by Finance Minister AHM Mustafa Kamal. Cabinet Division Additional Secretary Md Zillur Rahman Chowdhury briefed reporters after the meeting.

This time, each unit of LNG will cost $26.4, down from $29.25 in April, Chowdhury said.

In April, national oil company Petrobangla bought the same amount of LNG from Vitol at a price 20 percent lower than in March, when each unit cost $36.7.