Bangladesh has put a proposed 13-year LNG supply agreement with US-based Gunvor USA LLC on hold after the company quoted a price considered too high by the government.
The Cabinet Committee on Economic Affairs had approved the proposed government-to-government deal on July 28, but the Cabinet Committee on Government Purchase did not approve it on August 7. As a result, signing of the supply purchase agreement remains suspended.
Under the proposal, Gunvor would supply five LNG cargoes in 2026, six in 2027 and three in 2028, priced against the Asian JKM benchmark.
From 2029 to 2038, it would supply 10 cargoes annually under a Henry Hub-linked formula of 121% of Henry Hub plus $5.20/MMBtu.
Officials said Gunvor initially offered the 2026–28 LNG at JKM plus $0.10/MMBtu but later raised the premium to $0.875/MMBtu, citing tight global LNG supplies.
