Bangladesh to buy a spot LNG cargo from TotalEnergies
Petrobangla, Bangladesh's state-owned energy company, will purchase a spot cargo of LNG from TotalEnergies, Bangladesh Sangbad Sangstha, the country's official news agency, reported on January 24.
Total Energies Gas & Power, a unit of France’s TotalEnergies, will supply the cargo at a price of $10.88/mn Btu. The decision was taken by the Cabinet Committee on Government Purchase.
Amidst the backdrop of declining global gas prices, Bangladesh has also undertaken efforts to secure fresh long-term agreements. It recently signed a long-term LNG deal with QatarEnergy Trading, the LNG trading arm of QatarEnergy. In June last year, Bangladesh signed a deal with Oman. Last month Petrobangla got approval to sign long-term deals with Summit Oil and Shipping Company and Excelerate Energy.
Bangladesh already has existing LNG import deals with Oman Trading International and Qatargas. The country has two floating LNG terminals, each with a capacity of 500 million ft3/day, located in Maheshkhali. One of these terminals is operated by Summit, while the other is managed by Excelerate Energy.
Summit has received approval from the Bangladesh government to establish its second and country’s third floating LNG import terminal in Cox's Bazar.