Petrobangla sees no LNG shortage as 19 cargoes due in Oct-Nov

Petrobangla has secured 19 LNG cargoes for October and November, ensuring uninterrupted supply and ruling out any shortage during the two-month period, officials from Bangladesh Oil, Gas and Mineral Corporation (Petrobangla) said.

Of the total, 10 cargoes are scheduled to arrive in October and the remaining nine in November. Therefore, there will be no shortage of liquefied natural gas (LNG) during October and November, they said.

Talking to BSS, Petrobangla Chairman Md Abdul Mannan said there is no problem regarding LNG cargoes for November, as the required nine cargoes have been confirmed.

He said the necessary LNG cargoes have also been secured for October, with a total of 10 cargoes scheduled for import. This ensures preparedness for LNG supplies over the coming months.

Mannan said, "We are consistently trying to ensure the necessary LNG supplies for the upcoming three-month period. This approach eliminates the risk of any gas supply shortages due to LNG availability."

Petrobangla oversees LNG imports with the approval of the Energy Division.

Meanwhile, Rupantarita Prakritik Gas Company Limited (RPGCL), a subsidiary of Petrobangla, is responsible for tasks such as LNG importation, cargo scheduling, contract negotiation and implementation, and terminal operations.

Sources at Petrobangla and RPGCL told BSS that the import of a total of 19 LNG cargoes has been confirmed for October and November.

Of the total, 10 cargoes are scheduled for October. Three will be sourced from the spot market, two under long-term contracts, and five under short-term contracts.

Additionally, nine LNG cargoes are scheduled for import in November. Of these, six will be brought in under long-term agreements and three under short-term agreements.

These cargoes have been sourced from various countries, including the United States, Nigeria and Angola.

They said LNG is being procured from diverse sources to meet domestic demand. The cargoes will arrive according to schedule and subsequently be supplied to the national gas grid.

According to RPGCL data, each cargo contains about 32 lakh million British thermal units (MMBtu) of LNG. Based on this, imports of about 60.8 million MMBtu of LNG have been secured across the 19 cargoes scheduled for October and November.

The imported LNG arrives at the country's LNG terminals via sea routes, where it undergoes a process known as regasification, which converts LNG back into a gaseous state.

Following regasification, the gas is supplied to the national gas grid through pipelines.

Petrobangla Director (Finance) Mizanur Rahman said the secured shipments include cargoes under both long-term and short-term agreements, alongside purchases from the spot market.

With imports secured to meet demand, no major disruptions in LNG supply are anticipated over the coming months, he said.

Petrobangla officials said the imported LNG is supplied to the national gas grid after regasification, after which the gas is used in various sectors of the country.

QatarEnergy of Qatar and OQ Trading of Oman supply LNG to Bangladesh under long-term agreements. OQ Trading also supplies LNG to Bangladesh under short-term contracts.

Bangladesh also imports LNG from the spot market as required.