The Bangladesh government has approved the purchase of two additional cargoes of liquefied natural gas (LNG) from QatarEnergy Trading LLC under a long-term government-to-government agreement.
The approval was given at a meeting of the Cabinet Committee on Government Purchase held on Wednesday, September 23.
According to the proposal presented to the committee, the two additional LNG cargoes are scheduled to arrive in Bangladesh on November 6 and November 22.
LNG Price Set Below JKM Benchmark
The LNG will be purchased at a price $0.02 per MMBtu below the Japan Korea Marker (JKM) benchmark price.
The agreed price differs from the pricing formula specified in Bangladesh’s existing long-term LNG supply agreement.
QatarEnergy Trading LLC has been recommended as the supplier for both additional cargoes.
Government Seeks to Ensure Energy Supply
Finance Minister Amir Khosru Mahmud Chowdhury chaired the meeting, while the Energy and Mineral Resources Division presented the proposal.
The additional LNG purchases are part of the government’s efforts to ensure adequate gas supplies and meet the country’s growing energy demand.
