Govt floats two more tenders to buy two spot LNG cargoes in April

State-run Rupantarita Prakritik Gas Company Ltd (RPGCL) has floated one fresh tender and re-issued another to purchase two spot LNG cargoes for the April 23-24 and April 14-15 delivery windows.

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 reissued the tender for April 14-15 delivery, as it did not find a suitable offer, said a senior RPGCL official.

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

The volume of the spot LNG cargoes will also be around 3.36 million MMBtu each.

Bangladesh bought four spot LNG cargoes for March delivery windows, which is the highest purchase of LNG from the spot market in a month.

It also awarded two spot LNG tenders for early April delivery windows.

Riding on a high volume of LNG imports, Bangladesh’s LNG re-gasification reached the highest level ever at 1,022 million cubic feet per day last week, according to official data of Petrobangla.

The previous highest RLNG was recorded on April 20, 2024, when the country re-gasified around 1,005 mmcfd during the heat wave last summer.

The RPGCL might continue buying a high volume of spot LNG cargoes for the next several months during the ensuing summer to meet the scorching summer demand.

Bangladesh previously awarded its latest spot LNG cargo tender to TotalEnergies Gas and Power Ltd for an April 12-13 delivery window at US$14.22 per million British thermal units (MMBtu).

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