Govt to import 3 LNG cargoes at more than double price
Amid the ongoing conflict in the Middle East, the government has decided to import three LNG cargoes from the United Kingdom and South Korea at more than twice the previous spot market price.
The shipments are scheduled to arrive in Bangladesh between 5 and 13 April this year. The first cargo is expected between 5–6 April, the second between 9–10 April, and the third between 12–13 April.
The proposal was approved today by the government's Cabinet Committee on Public Procurement, chaired by Finance Minister Amir Khasru Mahmud Chowdhury. South Korea will supply two cargoes, while the United Kingdom will provide one.
Keep updated, follow The Business Standard's Google news channel
The UK cargo, purchased from Total Engineering Gas and Power Limited, will cost Tk907.84 crore, with a per MMBTU price of $21.58. By comparison, Bangladesh had imported one LNG cargo from the same company on 9 December last year for Tk436.07 crore, at $10.37 per MMBTU – less than half the current price.
Meanwhile, Bangladesh will import two LNG cargoes in two lots from South Korea's POSCO International Corporation. Each cargo will cost Tk873.35 crore, with a per MMBTU price of $20.76.
