Bangladesh Moves to Buy Five LNG Cargoes for August-September Supply
DHAKA, Aug 18 — Bangladesh has moved to procure five cargoes of liquefied natural gas (LNG) through an international quotation process as the government seeks to meet rising domestic gas demand and maintain supplies to power plants and industries. The proposed purchases, covering deliveries in late August and early September, are expected to cost the government about 11 billion taka ($90 million), according to a proposal placed before the Cabinet Committee on Government Purchase. The Energy and Mineral Resources Division has proposed buying the cargoes for delivery during five separate windows: Aug. 23-24, Aug. 26-27, Aug. 29-30, Sept. 1-2 and Sept. 4-5. Blackcube International Ltd of Britain and Oman-based Maxwell International SPC have been identified as the lowest bidders for the proposed supplies, according to the procurement proposal. The LNG prices were assessed against the Japan Korea Marker (JKM), a widely used benchmark for spot LNG deliveries in Asia. For the cargo scheduled...