Bangladesh scraps another LNG import tender over high prices

Bangladesh is cancelling another tender to import liquefied natural gas (LNG) in December, as it received one offer to supply the shipments that were too expensive, a senior energy ministry official said on Friday.

The offer from the Asian unit of Vitol to supply 138,000 cubic metres of LNG for Dec. 9-10 delivery was more than $2 per unit higher than the prices that Bangladesh pays under long-term contracts, said Anisur Rahman, senior secretary to the Energy and Mineral Resources Division.

State-run Rupantarita Prakritik Gas Company, which is in charge of LNG imports into the country, cancelled a tender for November delivery, citing the same reason.

“From December, we have a plan to import two cargoes of LNG from the spot markets each month,” Rahman said, adding that both the tenders would be reissued.