The government has approved the import of six cargoes of liquefied natural gas (LNG) from BP Singapore Pte Limited and QatarEnergy Trading LLC through the direct procurement method to meet the country's growing gas demand.
The approval came at a meeting of the Cabinet Committee on Government Purchase held on Saturday (October 24), according to a statement issued by the Ministry of Finance on Sunday.
Of the six cargoes, five will be purchased from BP Singapore Pte Limited, the Singapore-registered entity of global energy company BP. The agreement also includes provisions for procuring additional cargoes, subject to mutual consent between the two parties.
The purchase price has been fixed at $0.17 per million British thermal units (MMBtu) below the Japan Korea Marker (JKM) benchmark.
The committee also approved the procurement of one additional LNG cargo from QatarEnergy Trading LLC, a wholly owned subsidiary of QatarEnergy, under a long-term government-to-government (G2G) agreement.
The cargo is scheduled for delivery on December 20, 2026, at a price of $0.10 per MMBtu below the JKM benchmark.
Separately, the Cabinet Committee on Economic Affairs granted in-principle approval for the procurement of one LNG cargo from JERA Global Markets Pte Ltd (JERAGM) through the direct procurement method.
The committee also approved the signing of the finalised Short-Term LNG Sale and Purchase Agreement (SPA) and term sheet between Petrobangla and JERAGM.
FP/MIB
