Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
Bangladesh’s state-run Rupantarita Prakritik Gas Company Ltd (RPGCL) intends to buy two MORE spot LNG cargoes for March 09-10 March 15-16 delivery windows to meet mounting demand during Ramadan.
The RPGCL has already floated tenders and is awaiting evaluation.
It earlier cancelled two spot LNG cargo tenders for March 10-11 delivery windows due to poor response and high price quotes from the bidders.
If these two tenders become successful, Bangladesh will be able to bag three spot LNG cargoes for March deliveries.
The government has planned to buy a total of four spot LNG cargoes for March delivery windows to meet the mounting energy demand especially during the month of Ramadan.
Energy demand will go up during Ramadan and subsequent months afterwards to meet growing demand for irrigation and summer.
The bid winners will deliver the LNG cargoes at Moheshkhali island in the Bay of Bengal, with options to discharge the cargo at either of the country’s two floating storage re-gasification units (FSRUs) located on Moheshkhali island.
The RPGCL, a wholly owned subsidiary of state-run Bangladesh Oil, Gas, and Mineral Corporation, or Petrobangla, looks into LNG trades in Bangladesh.
The volume of each of the spot LNG cargo will also be around 3.36 million MMBtu.
Bangladesh previously awarded its latest spot LNG cargo tender to to Total Energies Gas and Power Limited for March 05-06 delivery window at US$$16.43 per million British thermal unit (MMBTu), the RPGCL official said.
Apart from spot LNG cargoes, Bangladesh has been importing LNG from its two existing long term LNG suppliers – Qatargas and OQ Trading International for regasification in its two operational FSRUs.
Azizjst@yahoo.com