6th July 2019
EP Report

 

Petrobangla counts a monthly loss of Tk 20 billion for importing LNG (liquefied natural gas) from international market and selling the fuel at current prices in the local market.

 

"We're losing Tk 620-Tk 650 million daily for import of LNG, its regasification and supply to the national gas grid," said a senior official of the state entity.

 

If this rate of loss continues, Petrobangla's annual loss would be around Tk 240 billion-almost triple the Tk 90-billion budgetary allocation as agricultural subsidy for the outgoing fiscal year.

 

The amount would be around four times the annual subsidy requirement of the state-run Bangladesh Power Development Board worth around Tk 65 billion.

 

Petrobangla's loss varies with the movement in LNG prices in the international market, which is tagged with global oil prices, he said.

 

Currently, the corporation has been regasifying around 554 million cubic feet per day (mmcfd) of LNG in total from two terminals as of June 10, according to Petrobangla. 


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