2024-04-03 05:05:45
The Ministry of Power, Energy and Mineral Resources is importing three cargoes of LNG through three separate international quotations. The total cost to import three cargoes of LNG will be Tk 1,256 crore 92 lakh 84 thousand 728. Three Singapore-based companies will supply these three cargoes of LNG.
Two floating LNG terminals with capacity of 500 mmcf and 600 mmcf per day have been set up at Maheshkhali in Cox’s Bazar to meet the existing and growing gas demand of the country. Currently 2.5 MTPA of LNG from Ras Lafan Liquefied Natural Gas Company Limited (Qatargas) for a period of 15 years and Oman Trading International (now OQT) for a period of 10 years under the agreement signed with Petrobangla on G-to-G basis through the two terminals. 1.0 MTPA of LNG Total 3.5 MTPA of LNG is being imported. Apart from long-term import of LNG for uninterrupted supply of gas to electricity, industry and fertilizer factories in the country, LNG is also being purchased from the spot market. In view of that, on March 22, the Minister of Power, Energy and Mineral Resources (Prime Minister) gave in-principle approval for the purchase of additional 10 cargo LNG from the spot market of 13 cargo LNG approved for the period January to June 2024.
According to sources, Master Sale and Purchase Agreement (MSPA) is prepared following due process for LNG purchase from spot market and necessary approvals are taken. Petrobangla then signed the final MSPA with 23 MSPA signatories.
According to sources, 5 cargoes of LNG are required to be procured from the spot market in May 2024 for uninterrupted gas supply to power, captive power, industrial and commercial sectors.
It may be noted that the price of LNG has been varying in the spot market for the past few months. As a result, an e-mail was sent to RPGCL on March 25 inviting bids for the supply of MSPA.
Sources said that when quotations were invited for the 13th cargo of LNG in 2024, 2 companies responded. Among them, Singapore-based Vital Asia Pvt Ltd mentioned the price of 9.6800 US dollars per unit and Switzerland-based TotalEnergies Gas & Power mentioned the price of 9.6900 US dollars per unit. Vital Asia Pvt Ltd as the lowest bidder will supply one cargo of LNG in the tender. One cargo equal to 33,60,000 MMBTU gas import will cost 418 crore 59 lakh 41 thousand 760 taka.
According to sources, one cargo (14th) of LNG will be supplied by Switzerland-based Total Energies Gas and Power Limited by participating in another tender. The firm was the lowest bidder, quoting the price of LNG at US$9.8900 per unit. Singapore-based company Vital Asia Pvt Ltd was the second lowest with a price of US$ 10.3677 per unit. In this case, TotalEnergies Gas and Power Limited as the lowest bidder will win one cargo of LNG supply. The total cost will be 427 crore 67 lakh 52 thousand 480 taka.
3 companies participated in the tender for another cargo (15th of 2024) of LNG. Among them, Singapore-based Gunvar Singapore Pvt Ltd quoted US$9.4965 per unit, Vital Asia Singapore US$9.5800 and Accelerate Energy LP US$10.0853. Gunvar Singapore Private Limited, as the lowest bidder in the tender, will supply this one cargo of LNG. The total cost will be 410 crore 65 lakh 90 thousand 488 taka.