Photo: Collected-
Metropolis Desk-
To meet the energy demand in industries and power plants, Bangladesh aims to import eight LNG cargoes from international sources in July, matching the number imported in June.
Six LNG cargoes would be purchased from long-term sources, while two will be imported by the state-run Petrobangla on the spot market.
The floating storage and regasification facility (FSRU) at Moheshkhali Island in the Bay of Bengal will receive the cargo.
From February to June, the country bought 12 spot LNG cargoes, and from July to December, it plans to import nine more.
Since February of this year, when natural gas costs for businesses, power plants, and industries increased by over 178 percent, the government has begun purchasing LNG from the spot market.
To obtain better rates, Bangladesh has been launching tenders since May to purchase numerous LNG cargoes from the spot market.
The country’s natural gas supply, which includes 711 million cubic feet per day of re-gasified LNG, is estimated to be 2.47 billion cubic feet per day as of July 3, 2023.
