United News of Bangladesh

The government on Wednesday approved a proposal for purchasing three LNG cargoes from the international spot market for delivery in early April aiming to ensuring energy security in the country. The approval came from the 8th meeting of the Cabinet Committee on Government Purchase, 1st such meeting of the new government chaired virtually by Finance Minister Amir Khosru Mahmud Chowdhury. Gas, oil prices surge, global shares drop amid Middle East tensions Cabinet Division officials said the Energy and Mineral Resources Division proposed the procurement through the international quotation method. According to the proposal, Total Energies Gas & Power Ltd., UK, will supply one cargo LNG at US$21.58 per MMBtu, while Posco International Corporation of South Korea will supply two cargoes LNG at US$ 20.76 per MMBtu each. The estimated costs for the LNG cargoes are Tk 907.84 crore, Tk 873.34 crore and Tk 873.34 crore respectively. The committee approved LNG procurement proposals to ensure uninterrupted gas supply for power generation and industrial activities in the country. Officials said the government continues to procure LNG from the spot market to meet growing domestic demand and maintain stability in the national energy supply system.