The Bangladeshi government will import two more cargoes of Liquefied Natural Gas (LNG) from the international spot market to meet the domestic gas demand.
The government approved two proposals on Thursday at a meeting of the Cabinet Committee on Economic Affairs chaired by Finance Minister AHM Mustafa Kamal.
In line with the approved proposals of state-owned Petrobangla, the Master Sale and Purchase Agreement (MSPA) will be signed with TotalEnergies Gas & Power Ltd, Switzerland, and Vitol Asia Pte Ltd, Singapore.
Both the proposals were approved as unsolicited offers on the basis of Speedy Increase of Power and Energy Supply Act (Amendment) 2021.
The Bangladeshi government had earlier signed such kind of MSPA with dozens of firms including PetroChina.
With the global price hike of fuel oil and shortage of supplies due to the Russia-Ukraine conflict, Bangladesh is importing dozens of LNG cargoes from long-term suppliers to cope with the mounting natural gas demand.