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Bangladesh to import 2 more spot LNG cargoes before Eid-ul-Fitr
Bangladesh’s state-run Rupantarita Prakritik Gas Company Ltd (RPGCL) intends to buy two more spot LNG cargoes during the second half of the current month before the ensuing Eid-ul-Fitr to meet mounting demand during Ramadan. The RPGCL has already floated tenders to purchase the spot liquefie
Bangladesh to import 2 more spot LNG cargoes before Eid-ul-Fitr
FE ONLINE REPORT
Published :
Mar 08, 2025 20:51
Updated :
Mar 08, 2025 20:51
Bangladesh’s state-run Rupantarita Prakritik Gas Company Ltd (RPGCL) intends to buy two more spot LNG cargoes during the second half of the current month before the ensuing Eid-ul-Fitr to meet mounting demand during Ramadan.
The RPGCL has already floated tenders to purchase the spot liquefied natural gas (LNG) cargoes for March 25-26 and March 30-31 delivery windows, said a senior RPGCL official.
If these two tenders become successful, Bangladesh will be able to bag five spot LNG cargoes for March deliveries, which would be the highest LNG purchase from spot market in a single month.
The country’s energy demand is expected to go up during Ramadan and subsequent months afterwards to meet growing demand for irrigation and summer.
According to the weather forecast of the Bangladesh Meteorological Department (BMD), a couple of heat waves are expected to hit over the western and southwestern parts of Bangladesh this month, and the temperature is set to reach around 40 degrees Celsius.
There would be a couple of mild, ranging 36-38 degrees Celsius, and moderate, ranging 38-40 degrees Celsius, heat waves during the later part of March, the BMD said.
There is a possibility of severe nor'westers this month.
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, a wholly owned subsidiary of state-run Bangladesh Oil, Gas, and Mineral Corporation, or Petrobangla, looks into LNG trades in Bangladesh.
The volume of each of the spot LNG cargoes will also be around 3.36 million MMBtu.
Bangladesh previously awarded its latest spot LNG cargo tender to Gunvor Singapore Pte Ltd for the March 15-16 delivery window at US$15.47 per million British Thermal Unit (MMBtu).
Bangladesh currently imports LNG from Qatar Energy and OQ Trading International under long-term deals and purchases LNG also from the spot market to re-gasify LNG in its two operational FSRUs, which have a total capacity of 1.10 billion cubic feet per day (Bcfd).
The country has been reeling from an acute energy crisis as its natural gas output is depleting.
Bangladesh has been rationing gas supply to industries, power plants, and other gas-guzzling industries to cope with the mounting demand.
The country’s overall natural gas supply is currently hovering around 2,843 million cubic feet per day (mmcfd), including 952 mmcfd of re-gasified LNG against the demand for over 4,000 mmcfd, according to official data of Petrobangla as of March 8.
FE ONLINE REPORT
Published :
Mar 08, 2025 20:51
Updated :
Mar 08, 2025 20:51
Bangladesh’s state-run Rupantarita Prakritik Gas Company Ltd (RPGCL) intends to buy two more spot LNG cargoes during the second half of the current month before the ensuing Eid-ul-Fitr to meet mounting demand during Ramadan.
The RPGCL has already floated tenders to purchase the spot liquefied natural gas (LNG) cargoes for March 25-26 and March 30-31 delivery windows, said a senior RPGCL official.
If these two tenders become successful, Bangladesh will be able to bag five spot LNG cargoes for March deliveries, which would be the highest LNG purchase from spot market in a single month.
The country’s energy demand is expected to go up during Ramadan and subsequent months afterwards to meet growing demand for irrigation and summer.
According to the weather forecast of the Bangladesh Meteorological Department (BMD), a couple of heat waves are expected to hit over the western and southwestern parts of Bangladesh this month, and the temperature is set to reach around 40 degrees Celsius.
There would be a couple of mild, ranging 36-38 degrees Celsius, and moderate, ranging 38-40 degrees Celsius, heat waves during the later part of March, the BMD said.
There is a possibility of severe nor'westers this month.
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, a wholly owned subsidiary of state-run Bangladesh Oil, Gas, and Mineral Corporation, or Petrobangla, looks into LNG trades in Bangladesh.
The volume of each of the spot LNG cargoes will also be around 3.36 million MMBtu.
Bangladesh previously awarded its latest spot LNG cargo tender to Gunvor Singapore Pte Ltd for the March 15-16 delivery window at US$15.47 per million British Thermal Unit (MMBtu).
Bangladesh currently imports LNG from Qatar Energy and OQ Trading International under long-term deals and purchases LNG also from the spot market to re-gasify LNG in its two operational FSRUs, which have a total capacity of 1.10 billion cubic feet per day (Bcfd).
The country has been reeling from an acute energy crisis as its natural gas output is depleting.
Bangladesh has been rationing gas supply to industries, power plants, and other gas-guzzling industries to cope with the mounting demand.
The country’s overall natural gas supply is currently hovering around 2,843 million cubic feet per day (mmcfd), including 952 mmcfd of re-gasified LNG against the demand for over 4,000 mmcfd, according to official data of Petrobangla as of March 8.
