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The government eyes the import of a total of six spot liquefied natural gas (LNG) cargoes this month, the highest in a single month, in order to meet the mounting summer demand.
State-run Rupantarita Prakritik Gas Company Ltd (RPGCL) has already bought five spot LNG cargoes for May delivery windows, a senior RPGCL official told The Financial Express on Saturday. He said the RPGCL's tender to buy one more cargo for May 30-31 delivery window is also open along with two more spot LNG cargo tenders for June 26-27 and July 2-3 delivery windows.
The country's demand for energy has gone up since early April with the advent of summer, which is expected to grow further with the rise of mercury.
Bangladesh purchased four spot LNG cargoes in the past two months - March and April.
The bid winners will deliver the 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 in the 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 spot LNG cargo will be around 3.36 million British Thermal unit (MMBtu). Bangladesh previously awarded its latest spot LNG cargo to Gunvor Singapore Pte Ltd. for May 25-26 delivery window at $11.83 per MMBtu. Currently, it imports LNG from Qatar Energy and OQ Trading International under long-term deals and also purchases from spot market.
The country has been reeling from an acute energy crisis as its natural gas output is depleting. It has been rationing gas supply to industries, power plants and other gas-guzzling industries to cope with the rising demand.
Azizjst@yahoo.com