Bangladesh bringing another LNG shipment from spot market, reports claim

March 27 -- With a view to boost electricity production in the country, the Government of Bangladesh has decided to bring in another shipment of liquefied natural gas (LNG) from the international spot market, at a cheaper rate, which happens to be the fifth since February this year.

As per reports, in a recent meeting, the cabinet committee on purchase, approved procurement of 33.60 lakh MMBtu of LNG from US-based Excelerate Energy LP for Taka 578.65 crore and went on to add this time the price of the super-chilled fuel was US $ 13.69 per MMBtu.

It may be mentioned here since the outbreak of the Russia-Ukraine war last year; LNG prices in the global market have gone up, reaching a record US $ 70 per MMBtu in August even as this trend of rising prices forced Bangladesh to pause purchase of LNG from the international spot market to stop the depletion of its foreign currency reserves.