Bangladesh eyes more spot-LNG over long-term supplies

Bangladesh eyes more spot-LNG over long-term supplies
Illustration purposes only (Image courtesy of Excelerate Energy)

Negotiations between Bangladesh and Qatar on the long-term LNG supply contract has entered final stages with the importer eyeing lower volumes in favor of spot supplies.

Currently, Bangladesh would purchase less than 4 million tons of LNG per year, Reuters reports the manager of Petrobangla’s LNG unit, Kazi Mohammad Anwarul Azim as saying.

Currently, the state-owned company is close to securing a deal for about 2.5 million tons of LNG with deliveries starting in early 2018.

According to Azim, the country intends to mix the long-term and spot-LNG supplies in order to ensure supply security and price competitiveness.

Analysts note that the looming supply glut might have prompted Bangladesh to dip into the spot market as Asian spot-LNG prices are expected to remain low.

Petrobangla has signed terminal use agreement with Excelerate Energy and Summit LNG to install FSRU based LNG terminal in the Moheshkhali Region, with a capacity to handle 3.75 mtpa of LNG each.

The terminal being developed by Excelerate Energy is scheduled to be commissioned by April 2018 and the Summit terminal by October 2018.

 

LNG World News Staff

Share this article

Follow LNG World News

Events>

<< Sep 2017 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

LNG BUNKERING MED

The only 3 day course offering theoretical and practical training on LNG bunkering for the Mediterranean market, the syllabus is accredited…

read more >

International Gas Cooperation Summit (IGCS)

The International Gas Cooperation Summit (IGCS) is a platform for South Africa’s aspirations to build an energy hub for gas cooperation…

read more >

Budapest LNG Summit

Budapest LNG Summit is a niche event focused on the up and coming LNG  region of Central & Eastern Europe (CEE).

read more >

Mozambique Gas Summit & Exhibition

Now in its fourth edition, the Mozambique Gas Summit & Exhibition is recognized as the leading strategic meeting for Mozambique’s gas industry…

read more >