Bangladesh has approved the purchase of six LNG cargoes, including one at $29.795 per million British thermal units (MMBtu), as the government moves to secure gas supplies amid a sharp rise in international LNG prices.
The Cabinet Committee on Government Purchase approved two cargoes through international quotations at $28.95 and $29.795 per MMBtu. UK-based TotalEnergies Gas & Power will supply the former, while Singapore-based Vitol Asia will supply the latter.
Four additional cargoes will be procured through direct purchases—two from US-based D’ARAB Inc. at $17 per MMBtu and two from Mind Mingle LLC at $19 per MMBtu.
The latest spot-market price is significantly higher than recent procurement costs. Bangladesh approved LNG purchases at $28.03 per MMBtu on Sept. 2, $24.63 on Aug. 24 and $23.93 a week earlier.
Before the recent Middle East conflict, LNG was available at around $10 per MMBtu.
