Own Correspondent: The government has signed a 10-year contract to import LNG from Oman’s OQ Trading Limited (OQT) on a G-to-G basis to meet the country’s energy needs. Under this agreement, 204 cargoes of LNG will be imported from the country from 2026 to 2036.
According to sources, a floating LNG terminal with a capacity of 500 mmcf per day has been set up at Mohshekhali in Cox’s Bazar to meet the country’s existing and increasing gas demand. A 15-year LNG sale and purchase agreement between Petrobangla and Qatar’s Ras Lafan Liquefied Natural Gas Company Limited (Qatargas) for the supply of LNG through two floating terminals and a 10-year LNG sale and purchase agreement with Oman Trading International (now OQ Trading Limited, OQT) for LNG import (SPA) are signed.
According to sources, on June 1, LNG SPA was signed with Qatar Energy Trading LLC for the purpose of importing LNG for a period of 15 years. Besides, in light of the demand, LNG is being imported from the spot market by calling for bids from companies that have signed the Master Sale and Purchase Agreement (MSPA).
According to sources, currently 2.5 MTPA from Qatar Gas and 1.0 MTP from OQT, for a total of 3.5 MTPA of LNG, are being imported under long-term contracts. From 2026 on, 1.5 Mtp of gas will be imported from Qatar Energy Trading LLC. Given the weather challenges in the Bay of Bengal, the two FSRUs have a capacity of 6.5 MTPA (equivalent to 850 mmcfd) of LNG. In addition, Summit Well and Shipping Co. aims to establish a third FSRU with a capacity of 600 mmcf per day by 2026 in Maheshkhali, Cox’s Bazar, Ltd. Along with this, negotiations are ongoing with Accelerate Energy Bangladesh Limited to set up a 4th FSRU with a capacity of 500 mmcfd at Payra in Patuakhali.
According to sources, the supply of gas is less than the demand, especially in the power generation, captive power, and industrial sectors, disrupting the normal gas supply. Due to the disruption of production in the industrial sector due to the shortage of gas, various business organizations have requested uninterrupted supply of gas and increased supply if necessary, considering the higher price of gas. In this situation, taking into account the fact that the increased cost of importing LNG from the spot market at a high price from certain categories of users, on January 18, the price of gas used for power generation was Tk 14 per cubic meter, the price of gas used in captive power and industry was Tk 30 per cubic meter, and the commercial (hotels, restaurants, and other) price of gas used was fixed at Tk 30.50 per cubic meter. Which has been effective since last February. To that end, more LNG is required to be imported under long-term contracts for uninterrupted gas supply to meet the country’s existing and growing gas demand.
In this situation, OQ Trading Limited will supply 4 cargoes of LNG in 2026, 16 cargoes in 2027, 16 cargoes of LNG in 2028, and 24 cargoes every year from 2029 to 2035 from OQ Trading Limited for a period of 10 years. The government has taken the initiative to import
