The Cabinet Committee on Government Purchase (CCGP) on Wednesday approved the procurement of eight liquefied natural gas (LNG) cargoes through direct international purchases to meet Bangladesh’s urgent gas requirements amid growing geopolitical and global energy market uncertainty. Report UNB
The approvals came as tensions stemming from the Iran and US-Israel conflict continue to create volatility in international energy markets.
Of the approved cargoes, four will be sourced from two international suppliers. Two cargoes will be purchased from the UK-based Blackcube International Ltd at $15.50 per million British thermal units (MMBtu), while another two will be procured from Oman-based Maxwell International SPC at the Japan Korea Marker (JKM) price plus $0.54 per MMBtu.
The proposals were submitted by the Energy and Mineral Resources Division.
The CCGP also approved the direct procurement of two LNG cargoes from Hong Kong-based Zhenyu Shipping Co. Limited in 2026 at $14.95 per MMBtu.
In a separate decision, the committee recommended a long-term government-to-government (G2G) LNG supply arrangement with Gunvor USA LLC for a total of 117 cargoes between 2026 and 2038.
Under the proposed arrangement, Bangladesh will purchase five cargoes in 2026, six in 2027 and three in 2028 at a price of JKM plus $0.0875 per MMBtu.
The agreement also includes three cargoes in 2028 and 10 cargoes annually from 2029 through 2038, with the price based on 121% of the Henry Hub (HH) price plus $5.20 per MMBtu.
The latest procurement decisions come as Bangladesh continues to face pressure on domestic gas supplies and increasingly relies on imported LNG to meet demand from power plants, industries and other consumers.
The government has been pursuing a combination of spot purchases, direct procurement and long-term supply agreements to maintain gas supplies and reduce the risk of disruptions amid heightened uncertainty in the global energy market.
