Bangladesh to Buy LNG from Spot Market: Press

The Bangladesh government has approved the country's first purchase of LNG from the international spot market, United News of Bangladesh (UNB) reported on September 2. The shipment is 3.5mn Btu in size.

Bangladeshi finance minister AHM Mustafa Kamal said that buying LNG from international spot market will cost taka 1.33bn ($16mn).  Singapore-based Vitol Asia will supply the LNG to Bangladesh, UNB reported. 

Once self-sufficient in gas, Bangladesh has turned to importing LNG in order to meet its surging demand for power. It has been importing LNG from Qatar and Oman under long-term contracts for the last two years. The country has two floating LNG terminals in operation.