Chattogram-bound LNG tanker stranded in the Persian Gulf

The tanker ‘Libretha’, scheduled to sail from Qatar’s Ras Laffan Port to Chittagong Port carrying 62,000 tonnes of liquefied natural gas (LNG), is now stranded in the Persian Gulf.

Iran has declared the Strait of Hormuz closed amid the war in the Middle East, preventing the tanker from beginning its journey to Chattogram because normal vessel movement through the strait has not yet resumed.

According to the ship-tracking website MarineTraffic, the Liberia-flagged tanker is anchored offshore near the coast of Qatar. It has remained at the same location for the past three days. The vessel’s draft—its underwater depth—is 11.30 meters, indicating that it is loaded with LNG. At nearly 295 meters long, it is among the larger LNG carriers.

The Strait of Hormuz is the only maritime route through which ships travel to and from seven countries in the Persian Gulf, including Qatar.

After Iranian forces announced the closure of the strait last Monday, ship movement through it has effectively stopped. As of Sunday night, MarineTraffic showed that although many vessels were stuck inside the strait, no ships were entering or leaving it.

Mohammad Nurul Alam, Senior Deputy General Manager of Uni Global Business Limited, the tanker’s local representative agency, said the master of the Libretha had earlier reported preparations to depart for Chittagong. However, the vessel still remains within the Strait of Hormuz area.

Another tanker named “Wadi Al Seil”, which was scheduled to load LNG, has also been unable to enter the strait. Both tankers were expected to arrive in Bangladesh by mid-March.

Despite uncertainty surrounding these two tankers, four LNG-carrying vessels have already begun arriving at Chittagong Port. Two ships—“Al Zor” and “Al Jasasia”—have already reached the port carrying 126,000 tons of LNG. Two more vessels, “Lusail” and “Al Ghalayel,” are expected to reach the port’s maritime area today, Monday and Wednesday respectively. Together, these four ships carry about 247,000 tons of LNG.

Bangladesh relies heavily on Qatar for LNG imports. According to data from the National Board of Revenue (NBR), customs clearance has been completed for 2.337 million tonnes of LNG imports up to February of the current fiscal year. Of this total, 65 per cent came from Qatar, which must pass through the Strait of Hormuz to reach Bangladesh.

Sources at the Petrobangla said daily gas supply has been reduced by about 200 million cubic feet amid fears of a supply shortage. Due to uncertainty surrounding the two tankers, two additional LNG cargoes were also purchased from the spot market last Wednesday.

Under these deals, Singapore’s Vitol Asia will supply LNG at USD 24.50 per unit, with the cargo expected to arrive in Bangladesh on 20 March.

Meanwhile, Gunvor will supply another cargo at USD 28 per unit, scheduled to arrive on 17 March. Before the war began, the same LNG was being purchased at around USD 10 per unit.

Officials at Petrobangla believe that despite the higher prices in the spot market, these additional purchases should help maintain normal gas supply in the country at least for the current month.