Vitol to supply Bangladesh’s spot cargo

Thursday, 17 September 2020
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Bangladesh’ Cabinet Committee on Public Purchase has approved 10 procurement proposals, including one for the import of 3.490 mill MMbtu of LNG from the international spot market.

Finance Minister, AHM Mustafa Kamal, who presided over the meeting, told the media last week that buying LNG from international spot market will cost Tk132.93 crore, saving the government’s Tk32 crore, compared to the price of long term suppliers.

“This has been the first time, the government moves to import LNG from international spot market instead of long-term suppliers”, he confirmed.

The spot LNG cargo will be supplied by Singapore-based Vital Asia Pte Ltd.

Last month, state-run Rupantarita Prakritik Gas Co (RPGL), invited offers from 14 shortlisted companies.

RPLG sought 138,000 cu m of LNG for delivery from 30th September to 8th October.

Bangladesh imported 3.89 mill tonnes of LNG last year - through two long-term contracts with Oman and Qatar and currently has two FSRUs, acting as import terminals. 

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