Cabinet committee approves purchase of 8 LNG cargoes from four intl suppliers
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Cabinet committee approves purchase of 8 LNG cargoes from four intl suppliers

Cabinet committee approves purchase of 8 LNG cargoes from four intl suppliers


The Cabinet Committee on Economic Affairs on Thursday recommended a number of proposals in principle, including the emergency procurement of eight liquefied natural gas (LNG) cargoes from four international suppliers through the direct procurement method (DPM), aiming to ensure uninterrupted gas supply amid geopolitical instability.

The recommendations came at the 24th meeting of the Cabinet Committee on Economic Affairs in this year held today at the Cabinet Division Conference Room at Bangladesh Secretariat with Finance Minister Amir Khosru Mahmud Chowdhury in the chair.

The committee recommended policy approval for purchasing two LNG cargoes each from Blackcube International Ltd, UK; Global Fuel Supplies Pte Ltd, Australia; Plentitude Energy Sdn Bhd, Malaysia; and Maxwell International SPC, Oman through international direct procurement to meet the country’s urgent gas demand.

The emergency purchases were proposed in view of the unstable geopolitical situation following the Iran and US-Israel conflict, according to the meeting outcomes.

The committee also recommended policy approval for procuring 5,000 metric tons (±5%) of LPG from Speed Marketing Corporation (Speed Group) through direct international procurement at Saudi Aramco CP plus US$97 per metric ton (CFR basis).

The LPG will contain 35-40 percent propane and 60-65 percent butane and is intended to meet emergency domestic demand, increase the government’s share in the LPG market and help stabilize prices.

In the transport sector, the committee recommended policy approval for implementing a project to procure around 200 electric buses, including buses for women passengers, establish charging stations and develop related infrastructure for the Bangladesh Road Transport Corporation (BRTC) under government financing through the Direct Procurement Method (DPM).

A proposal seeking policy approval for the draft “Bangladesh Onshore Model Production Sharing Contract (PSC) 2026 (Plain Lands)”, submitted by the Energy and Mineral Resources Division was, however, withdrawn from the meeting.

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Cabinet Committee LNG cargoes LNG cargoes from four intl suppliers