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>

<< Apr 2019 >>
MTWTFSS
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 2 3 4 5

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >

Central and Eastern Europe SSLNG Forum

SSLNG projects are important for Central and Eastern Europe (CEE) because they offer opportunities for solving issues…

read more >

Klaipeda LNG Forum 2019

Klaipėda LNG forum 2019 organised by Klaipėda Science and Technology Park, Klaipėdos nafta and Embassy of the Netherlands will take place on the 15-16 May at Klaipėda Castle’s site hall, Lithuania.

read more >

Flame 2019

Flame is Europe’s largest gathering of midstream gas & LNG players, bringing together everyone who matters – from producers to utilities, purchasers, infrastructure providers, traders, regulators and policy makers.

 

More info

read more >