Govt approves LNG import from international spot market

A liquefied natural gas (LNG) tanker is tugged towards a thermal power station in Futtsu, east of Tokyo, Japan 13 November 2017.
Reuters file photo

The government will import two cargoes of Liquefied Natural Gas (LNG) from the international spot market, reports UNB.

The cabinet committee on government purchase approved two separate proposals of state-owned Petrobangla, placed by the Energy and Mineral Resources Division on Thursday.

Both the proposals were approved as unsolicited offers on the basis of Speedy Increase of Power and Energy Supply Act (Amendment) 2021.

Finance minister AHM Mustafa Kamal presided over the virtual meeting, which also approved three other proposals.

As per the first proposal, the Petrobangla will import one cargo containing 3.36 million (33.60 lakh) MMBtu LNG from TotalEnergies Gas & Power Ltd, Switzerland, at a total cost of Tk 5.95 billion (595.45 crore) with each unit of LNG at USD 13.77.

The other LNG cargo containing the same quantity will be imported by Petrobangla from Vitol Asia Pte Ltd, Singapore, at a cost of Tk 6.74 billion (674.35 crore) with each unit at USD 14.90.

The CCGP also approved two proposals of the agriculture ministry for the import of fertilizer.

As per the proposals, under the state level agreement, Bangladesh agriculture development corporation (BADC) will import 30,000 metric tonnes (MTs) of SP fertilizer from OCP of Morocco at a cost of Tk 1.29 billion (129.10 crore).

Under the state level agreement, the BADC will import 40,000 MT of DAP fertilizer from Ma’aden of Saudi Arabia at a cost of Tk 2.37 billion (237.61 crore).

The CCGP approved a proposal of the roads and highways department to appoint the joint venture of Dohwa, Korea; SMEC International Pt Ltd, Australia; Pan Arab Consulting Engineers, Kuwait; SARM Associates Ltd, Bangladesh and ACE Consult, as consultant for ‘Construction of Nalua-Baherchar Bridge over Pandav-Payra River on Barisal (Dinerarpul)-Lakshipasha-Dumki Road’ project at a cost of Tk 720 million (72.74 crore).