Govt to import LNG worth Tk 609.27cr from US

Bangladesh will import liquefied natural gas (LNG) cargo worth Tk Tk609.27 crore from the United States.

The Cabinet Committee on Government Purchase (CCGP) has approved a proposal to import the cargo to meet the growing demand.

Cabinet Secretary (Coordination) Mahmudul Hossain Khan made the disclosure following a cabinet meeting held on Wednesday. He said this is the 21st LNG cargo to be imported this year.

A total of nine proposals were approved during the meeting presided over by Finance Minister Abul Hassan Mahmood Ali, he said, adding that the LNG would be imported from M/S Excelerate Energy LP of United States.

Mahmudul Hussain Khan said that the Cabinet committee on procurement called for quotations from companies that have master sales and purchase agreements with the government. After evaluating all the proposals, the Excelarate Energy, US was recommended for the contract.

The US-based Excelarate Energy will supply the LNG at a cost of Tk 609.27 crore and per unit (MMBtu) of the LNG cost will be USD13.558. The LNG was last bought at USD12.9697 per MMBtu.

Meanwhile, an agreement was approved between Sylhet Gas Fields Limited (SGFL) and Sinopec International Petroleum Service Corporation, China, to implement the Energy Department’s proposal of well drilling activities of the project titled ‘Drilling of Sylhet-11 (Development Well) and Rashidpur-13 No. Well (Exploratory Well)’, in accordance with the Quick Enhancement of Electricity and Energy Supply (Special Provision) Act, 2010 (with the latest amendment of 2021).

Tk 444.85 crore will be spent on this mining operation, said the Cabinet secretary.