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Dhaka Saturday,  Jun 15, 2024

Another Spot LNG Cargo For June, Tender Floated

The government will buy one more LNG (liquefied natural gas) cargo from the international spot market for June delivery, according to a senior Petrobangla official.

The Rupantarita Prakritik Gas Company Ltd (RPGCL) floated a tender on May 28 to purchase the spot LNG cargo for the June 28-29 delivery, he said.

The bid winner may have an option to discharge the cargo at any of the country’s two floating, storage and regasification units (FSRUs) at Moheshkhali island, added the official.

The RPGCL, a wholly-owned subsidiary of the state-run Bangladesh Oil, Gas and Mineral Corporation, known as Petrobangla, looks after LNG trading in Bangladesh.

The volume of the spot LNG cargo should be 3.36 million British thermal unit (MMBtu).

With the cargo in question, Bangladesh will be importing a total of four spot LNG cargoes for June delivery windows.

The South Asian country previously awarded three spot cargoes to two separate global suppliers at more than $10 per MMBTu for June delivery windows.

Bangladesh awarded both June 07-09 and June 09-11 delivery windows to Gunvor Singapore Pte Ltd to supply lean LNG at the same rate of $10.4622 per MMBTu.

Qatar Energy Trading LLC bagged a contract to supply the remaining one spot cargo for June 19-21 delivery window at the cost of $10.30 per MMBTu.

Separately, Bangladesh is set to import a total of four long-term LNG cargoes in June — three from QatarEnergy, previously known as Qatargas, and one from OQ Trading, previously known as Oman Trading International, a senior Petrobangla official said.

Despite payment delays, said the Petrobangla official said, Bangladesh was continuing LNG imports from both long-term and spot suppliers to meet mounting demand.

From Financial Express

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