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Govt Approves Three LNG Cargoes to Secure Gas Supply
The government on Wednesday approved the purchase of three liquefied natural gas (LNG) cargoes from the international spot market to ensure a stable energy supply in the country.
The approval came at the eighth meeting of the Cabinet Committee on Government Purchase, the first such meeting under the new government, chaired virtually by Finance Minister Amir Khosru Mahmud Chowdhury.
Officials from the Cabinet Division said the proposal was placed by the Energy and Mineral Resources Division and the LNG will be procured through the international quotation method.
According to the proposal, TotalEnergies Gas & Power Ltd. of the United Kingdom will supply one LNG cargo at $21.58 per MMBtu, while POSCO International Corporation of South Korea will provide two cargoes at $20.76 per MMBtu each.
The estimated costs for the three LNG cargoes are Tk 907.84 crore, Tk 873.34 crore and Tk 873.34 crore respectively.
The committee approved the procurement to help maintain uninterrupted gas supply for power generation and industrial activities.
Officials said the government continues to import LNG from the spot market to meet growing domestic demand and maintain stability in the national energy supply system.