The Bangladeshi government has taken urgent steps to purchase two cargoes of liquefied natural gas (LNG) from the spot market at nearly double the usual price, in response to a global energy crunch intensified by the ongoing conflict in Iran. Although long-term supply agreements exist with countries such as Qatar, delays in scheduled shipments prompted authorities to act swiftly to prevent a potential domestic energy crisis.
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Spot Market Procurement Details
According to Petrobangla sources, the acquisition of the two cargoes is projected to cost approximately BDT 2,300 crore, compared with BDT 1,100 crore for a similar shipment procured last month. This represents an additional expenditure of roughly BDT 1,200 crore, reflecting the premium paid for immediate delivery.
The Cabinet Committee on Purchase granted approval for the rapid procurement during a meeting on Wednesday, citing the critical need to maintain uninterrupted energy supply.
Supplier and Pricing Information
A Petrobangla official elaborated on the purchases:
One cargo will be sourced from the US-based Gunvor Group at $28.28 per MMBTU, totalling BDT 1,279 crore, more than double the BDT 500 crore spent on a comparable shipment in January.
The second cargo will be purchased from Vitol, priced at $23.08 per MMBTU, expected to arrive in Bangladesh on 18 or 19 March 2026.
The Gunvor shipment is anticipated to dock on 15 or 16 March 2026.
Supply Chain Challenges
Petrobangla Chairman Erfanul Haque explained that while four LNG shipments scheduled for March have already transited the Hormuz Strait, two additional vessels—expected on 15 and 18 March—remain delayed.
Initially, Petrobangla issued two rounds of spot-market tenders on Tuesday and Wednesday, but no suppliers participated. As a result, the authority resorted to direct negotiations to finalise the procurement of these urgent cargoes.
Financial Overview
| Cargo Supplier | Unit Price (per MMBTU) | Total Cost (BDT crore) | Expected Arrival |
|---|---|---|---|
| Gunvor Group | $28.28 | 1,279 | 15–16 March 2026 |
| Vitol | $23.08 | Approx. 1,021 | 18–19 March 2026 |
| Total | — | 2,300 | — |
Implications for Energy Security
Purchasing LNG at such elevated rates underscores the urgency of ensuring uninterrupted domestic energy supply amid global shortages and geopolitical tensions. Officials emphasise that despite the cost premium, securing fuel is crucial to prevent disruptions in power generation, industrial activity, and household energy access.
Energy analysts note that Bangladesh’s reliance on imported LNG exposes it to volatile international commodity prices and supply chain disruptions. The coming weeks will test the government’s capacity to manage logistics efficiently, control costs, and maintain national energy security while navigating the global energy crisis.