Bangladesh Approves 949 Crore Taka Spot Market LNG Import

Bangladesh has sanctioned the purchase of a fresh liquefied natural gas (LNG) cargo from the spot market at a cost of roughly 949.43 crore BDT to bolster domestic energy reserves and maintain industrial productivity.

The decision was reached during a high-level meeting of the Cabinet Committee on Government Purchase at the Secretariat on Thursday, 30 July. Chaired by Finance Minister Amir Khosru Mahmud Chowdhury, the panel approved the proposal put forward by the Energy and Mineral Resources Division to import the liquefied gas from Singapore-based Vitol Asia Pte Ltd.

Under the agreed terms, the energy trading firm will supply LNG at 22.35 USD per million British thermal units (MMBtu). An official press release from the Cabinet Division confirmed that the consignment is scheduled to reach Bangladesh’s floating storage and regasification facilities between 15 and 16 August.

Procured through an international request-for-quotation process under Rule 105(3)(a) of the Public Procurement Rules 2025, Vitol Asia secured the contract after emerging as the lowest responsive bidder. Official records show that this shipment represents the 42nd spot-market LNG cargo sourced by the nation for 2026.

Energy security remains a paramount challenge for Bangladesh. Steady depletion across domestic onshore and offshore gas fields has pushed state-owned Petrobangla to depend heavily on a mix of long-term supply deals and short-term spot purchases. While international spot market transactions carry inherent price volatility and strain foreign currency reserves, state authorities view these emergency shipments as indispensable to prevent severe load-shedding and keep key manufacturing sectors running smoothly.

During the same session, the cabinet body also greenlit a separate procurement proposal submitted by the Ministry of Industries. The government cleared the purchase of 30,000 metric tonnes of bagged granular urea fertiliser from the local producer Karnaphuli Fertiliser Company Limited (KAFCO) for the 2026–27 fiscal year.

Marking the initial lot of fertiliser procurement for the new financial period, the contract totals 132.62 crore BDT, with the rate set at 357.25 USD per metric tonne. The timely authorization is intended to guarantee an uninterrupted supply of crucial agricultural inputs for farmers across the nation ahead of upcoming crop planting schedules.