Bangladesh to buy LNG cargo worth Tk609.27 crore

A cabinet committee on procurement has approved the proposal to buy LNG cargo for Tk609.27 crore.

The LNG will be purchased through spot market after getting quotation from countries that have master sales and purchase agreements with the government.

The decision was taken during a meeting today (3 July) under the chairmanship of Finance Minister Abul Hasan Mahmud. Following the meeting, Cabinet Secretary (Coordination) Mahmudul Hossain Khan informed reporters about a total of nine proposals that were approved in the meeting.

Mahmudul Hussain Khan said, Excelarate Energy, US, was the recommended bidder. The price of LNG per unit (MMBtu) has been fixed at $13.5580.

LNG was last bought at $12.9697 per MMBtu. The Cabinet Committee on Procurement approved the purchase of 21 cargoes of LNG in the current year 2024, including this cargo.

An agreement was approved between Sylhet Gas Fields Limited (SGFL) and Sinopec International Petroleum Service Corporation, China, to implement the Energy Department’s proposal of well drilling activities of the project titled “Drilling of Sylhet-11 (Development Well) and Rashidpur-13 No. Well (Exploratory Well)”, in accordance with the Quick Enhancement of Electricity and Energy Supply (Special Provision) Act, 2010 (with the latest amendment of 2021). 

Cabinet Secretary Mahmudul Hossain Khan said that Tk444.85 crore will be spent on this mining operation.

Besides, also approved were the proposals to purchase DAP and MOP fertilisers from Saudi Arabia and Russia at the state level, purchase of the project package number- RPW-1.2 of the project titled “Greater Dhaka Sustainable Urban Transport Project (BRT, Gazipur-Airport)” and building a multi-storied residential building for the cleaners of Dhaka North City Corporation at Gabtali City Palli.