Govt floats tenders to purchase two more spot LNG cargoes in Feb

Bangladesh’s state-run Rupantarita Prakritik Gas Company Ltd (RPGCL) has floated a fresh tender and re-issued another to purchase two spot LNG cargoes for February 13-14 and February 06-07 delivery windows, respectively.

The RPGCL re-issued the tender for one spot LNG cargo for the February 6-7 delivery window after cancelling the previous one due to higher-than-expected price quotes, nearing around US$16 per million British thermal units (MMBtu) from the bidders, said an official.

The bid winners will deliver the LNG cargoes to Moheshkhali Island in the Bay of Bengal, with options to discharge the cargo at either of the country’s two FSRUs (floating storage regasification units) located on Moheshkhali Island.

RPGCL, a wholly owned subsidiary of the state-run Bangladesh Oil, Gas, and Mineral Corporation (Petrobangla), handles LNG trades in Bangladesh.

The two tenders were floated on January 8, with the bid submission deadline ending on January 13.

The volume of each spot LNG cargo will be around 3.36 million MMBtu.

Bangladesh last awarded a spot LNG cargo tender to Excelerate Energy LP of the USA for the January 30-31 delivery window at US$15.69 per MMBtu, the RPGCL official said.

Apart from spot LNG cargoes, Bangladesh has been importing LNG from its two existing long-term suppliers—Qatargas and OQ Trading International—for regasification in its two operational FSRUs.

azizjst@yahoo.com