Home Bangladesh BD procures LNG at a further lower rate from int’l market
Bangladesh - June 1, 2022

BD procures LNG at a further lower rate from int’l market

Diplomatic Correspondent: Bangladesh has procured Liquefied Natural Gas (LNG) at a further lower rate from the international spot market.
According to documents placed by the Energy and Mineral Resources Division to the Cabinet Committee on Government Purchase (CCGP), state-owned Petrobangla procured 33.60 lakh MMBtus of LNG at the rate of $24.25 per MMBtu while the per unit cost of last consignment was $25.75.
Two weeks earlier, Bangladesh had to procure LNG at $26.40 per MMBtu.
Official documents show this time a LNG ship costs Tk 838.91 crore while the last week’s ship’s cost was Tk 886.76 crore, lowered by Tk 47.85 crore.
The government has been spending extra money in importing LNG as price of the natural gas has gone up on the international market following the Russia-Ukraine war that started in February this year.
Following the emergence of the Covid-19 pandemic situation, the international market witnessed a drastic fall in LNG price that had gone below $5 per MMBtu.
But with the improvement in Covid-19 situation, the price also went up to $ $39 MMBtu and again came down to $11 MMBtu.
Meanwhile, the CCGP approved 15 more proposals of which 10 were placed by the Energy and Mineral Resources Division to allow Petrobangla to award contracts to different contractors to drill exploration Well No-8 at the Koilashtila Gas Field under its subsidiary company the Sylhet Gas Fields Limited.
Different local and international companies including Halliburton Far East Pte Ltd., Singapore; AlMansoori Petroleum Services LLC, UAE; and PanTerra Geoconsultans B.V., Netherlands obtained different segments of supply equipment, chemical and conducting the drilling works.
The CCGP approved a tender proposal of Chttagram WASA under Local Government Division to award a Tk 831.21 crore contract (package No-W1) to the Joint Venture of (1) Zhongnan Engineering Corporation Ltd and (2) Sinohydro Corporation Ltd, China to construct sewerage system in Chattagram City while another similar contract of Tk 648.88 crore (Package No-W2) was awarded to Joint Venture of (1) ECEC; (2) CCECC and (3) TCEL.

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