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>

<< Aug 2018 >>
MTWTFSS
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 31 1 2

Offshore Energy Exhibition & Conference 2018

Offshore Energy Exhibition & Conference (OEEC) is Europe’s leading offshore energy event.

read more >

Oil and Gas 2018

The conference will cover a wide range of topics and allow participants to discuss about the new technologies developed in Petroleum…

read more >

Gastech Exhibition & Conference 2018

The leading exhibition and conference for the global gas, LNG and energy industries.

read more >

Singapore International Bunkering Conference and Exhibition (SIBCON)

The 20th edition of the Singapore International Bunkering Conference and Exhibition (SIBCON) will be about inspiring change…

read more >