Bangladesh to buy LNG from Vitol
Bangladesh will buy an LNG cargo from commodity trader Vitol at a price of $29.70/mn Btu, state media reported on February 23.
The price for the cargo that state-owned Petrobangla will pay is more than four times the price that it paid to Vitol in March last year. Bangladesh will have to spend more than 10bn takas ($120mn) in total for the shipment, the state-owned BSS news agency reported.
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Vitol was the only firm that took part in the tender. The cargo will be delivered in mid-March, Reuters said in a separate report.
The government had late last year decided to stop buying LNG from the spot market due to the high prices.