Govt to buy LNG from South Korea, UK at over $24/MMBtu
The two cargoes, scheduled for delivery in September, will cost $24.625 and $24.25 per MMBtu.
The government will buy two cargoes of liquefied natural gas (LNG) from South Korea and the United Kingdom at prices exceeding $24 per million British thermal units (MMBtu) to meet domestic gas demand.
The Cabinet Committee on Government Purchase, chaired by Finance Minister Amir Khosru Mahmud Chowdhury, approved the proposals to import the two cargoes at its meeting today (24 August).
The LNG is being procured through an international quotation process.
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One cargo will be imported from South Korea's major trading and energy company Posco International Corporation for delivery on 13-14 September at $24.625 per MMBtu.
The committee also approved the import of another cargo from TotalEnergies Gas & Power Ltd of the UK for delivery on 23-24 September at $24.25 per MMBtu.
The prices are higher than the $23.93 per MMBtu that the government agreed to pay Aramco Trading Singapore Pte Ltd for an LNG cargo.
The purchase proposal was approved by the Cabinet Committee on Government Purchase on 19 August.
