Saturday, 11 April, 2020

17 foreign companies shortlisted to import LNG

Published on: 11:48 pm - Wednesday | August 28, 2019


Some 17 international companies are in a shortlist from whom the government will import LNG to meet the country’s demand for natural gas.

Cabinet Committee on Economic Affairs, with Finance Minister AHM Mustafa Kamal in the chair, approved a proposal of the Energy and Mineral Resources Division in this regard on Wednesday, reports UNB.

The government will import the LNG from these companies under a Master Sales and Purchase Agreement in the international spot market.

The Finance Minister said this will help the government to import LNG smoothly through an expedited process which will ease the ongoing gas crisis, as Bangladesh’s own gasfields gradually wind down production.

Currently, Bangladesh is importing LNG from Qatar and Kuwait under long term agreements.

The government has set a strategy to import some 25 percent of the total import of LNG  spot market through open tender, while the remaining will be imported from other companies under long-term agreements.