Bangladesh to procure LNG from spot market

The Advisers Council Committee on Economic Affairs of Bangladesh yesterday approved a proposal in principle for procuring LNG from the spot market to meet the emergency demand for gas in the country.

The LNG will be procured from some 23 listed firms which signed Master Sale Purchase Agreement (MSPA) with the Petrobangla to meet the emergency need of gas under the Public Procurement Rules, 2008.

The approval came from the 1st meeting of the Advisers Council Committee on Economic Affairs in this year held Wednesday at the Cabinet Division conference room at Bangladesh Secretariat with Adviser to the interim government on the Ministry of Finance and Commerce Dr Salehuddin Ahmed in the chair.

Briefing reporters after the meeting, the Finance Adviser said that the meeting approved another proposal in principle from the Ministry of Industries for procuring urea fertilizer for the current fiscal year (FY25) from Fertiglobe Distribution Limited, UAE under G2G basis.

When asked about the details of the firms from where the LNG would be procured, the adviser said that the issues were discussed in the meeting while it would also be ensured that there is no hassle while importing LNG under such arrangement.

He told another questioner that LNG would be procured from the spot market at reasonable price.