Bangladesh government has cleared procurement of one cargo Liquefied Natural Gas (LNG) from Singapore spot market as part of its ongoing efforts to meet rising demand for gas through LNG imports.
It has to spend Tk584.16 crore to buy the LNG cargo from M/S Gunvor Singapore, PTE Ltd, Singapore which bagged the supply order through an international bidding process.
The approval for this year’s 26th LNG cargo, to be delivered on June 26-27, came on Tuesday from a meeting of the Advisory Council Committee on Government Purchase held with Finance Adviser Salehuddin Ahmed in the chair.
In total, the meeting approved 12 procurement proposals which also included a proposal of the Ministry of Commerce to buy 1.10 crore litres of rice bran oil.
The move is aimed at facilitating state-run the Trading Corporation of Bangladesh’s campaign for supplying commodities to limited income group at subsidised price.
Following a proposal from the Energy and Mineral Resources Division, Petrobangla would procure one cargo or 33.60MMbtu LNG from M/S Gunvor Singapore, PTE Ltd, Singapore with per MMbtu costing $12.18.
Earlier on 07 May, the purchase committee okayed two proposals for buying two cargoes of LNG spending Tk1,104.42 crore.
In response to another proposal from the Ministry of Commerce, the state-run Trading Corporation of Bangladesh (TCB) would procure 1.10 crore liters of refined rice bran oil through local Open Tender Method (OTM) from Majumder Products Limited, Dhaka, Tamim Agro Industries Ltd Dhaka, Prodhan Oil Mills Ltd Gaibandha and Green Oil and Poultry Feed Industries, Dhaka with around Tk177.10 crore with per liter oil costing Tk161.
The day’s purchase committee meeting also approved six separate procurement proposals under the Ministry of Water Resources on the project titled “Climate Smart Agriculture and Water Management (CSAWM) Project (BWDB) part”.