In a bid to meet the increasing power demand of the country, Bangladesh is set to import two cargoes of liquefied natural gas (LNG) in September and October. According to an official from Rupantarita Prakritik Gas Co Ltd (RPGCL), the first cargo will be provided by TotalEnergies at a rate of $13.77 per million British thermal units (mmBtu) and is expected to be delivered on September 28-29. The second cargo, to be shipped by Vitol, will cost $14.90/mmBtu with a delivery date set for October 12-13.

The decision to import LNG comes as Bangladesh has been facing a growing power demand that cannot be met solely by domestic sources. By importing spot LNG, the country aims to bridge this demand-supply gap and maintain a stable power supply. These latest LNG imports follow the signing of two long-term deals earlier this year. Bangladesh has entered into agreements with OQ Trading (formerly known as Oman Trading International) and QatarEnergy, with both contracts set to commence supplies from 2026. These long-term deals will provide the country with a reliable and consistent source of LNG for its power generation needs.

The involvement of TotalEnergies and Vitol in supplying LNG to Bangladesh showcases the growing importance of the country in the global energy market. However, both companies have yet to respond to a request for comment from Reuters. As Bangladesh continues to prioritize the expansion of its energy infrastructure, the importation of LNG plays a pivotal role in ensuring a stable and sustainable power supply. With long-term agreements with reputable suppliers and spot cargoes to meet immediate demand, Bangladesh is taking significant steps towards fulfilling its energy requirements and supporting its economic growth.