Two companies under the Bashundhara Group submitted separate proposals to the Ministry of Power, Energy and Mineral Resources seeking permission to import liquefied petroleum gas (LPG) and liquefied natural gas (LNG), arguing that greater private-sector participation would strengthen Bangladesh’s energy security, ensure uninterrupted fuel supplies and help stabilise prices.
Proposal documents obtained by Just Energy News show that Bashundhara Oil and Gas Company Limited (BOGCL) and Bashundhara Multi Trading Limited (BMTL) approached the ministry through independent applications. While both sought approval to import LPG, BOGCL also requested permission to import LNG under its own management.
The documents suggest a coordinated effort by two entities of one of Bangladesh’s largest conglomerates to enter the country’s strategic fuel import market at a time when domestic natural gas production was declining and dependence on imported fuel was increasing.
BOGCL Seeks Approval to Import LPG, LNG
In a detailed application addressed to Power, Energy and Mineral Resources Minister Iqbal Hasan Mahmood and signed by Anvir Bashundhara Group Chairman Sayem Sobhan Anvir, Bashundhara Oil and Gas Company Limited requested permission to import LPG and LNG directly.
The company argued that it already possessed the operational capability, infrastructure and international business relationships required to undertake large-scale fuel imports.
According to the proposal, BOGCL had already received government approval to produce refined petroleum products, including naphtha, diesel, furnace oil, bitumen and other products, from its refinery with an annual refining capacity of 22.10 lakh metric tonnes of crude oil.
Using this experience as the basis of its application, the company argued that it was well positioned to expand into LPG and LNG imports.
“Due to various public development activities of the government, the demand for LPG and LNG is increasing day by day in the country,” the proposal states.
The company noted that demand had accelerated after the government stopped issuing new natural gas connections to households, forcing residential and industrial consumers to switch increasingly to LPG.
The proposal further argued that Bangladesh remained heavily dependent on imported LPG.
“More than 98 percent of this industry is dependent on imports.”
Citing industry projections, BOGCL said Bangladesh was among the world’s fastest-growing LPG markets and estimated domestic demand would rise from about 1.4 million tonnes to 3 million tonnes by 2030.
Energy Security Cited as a Key Justification
Beyond commercial considerations, BOGCL framed its application as a matter of national energy security.
Referring to geopolitical uncertainty and pressure on Bangladesh’s foreign exchange reserves, the company argued that allowing experienced private operators to import fuel would strengthen the country’s energy resilience.
“Due to the international geopolitical environment, the country’s foreign exchange savings are very necessary,” the proposal says.
It adds: “If the government… gives the opportunity to import under its own management, it is possible to ensure greater energy security in this sector.”
The company argued that reliable supplies of LPG and LNG would support electricity generation, transport, industrial production and household energy demand.
Company Highlights International Supply Network
BOGCL also highlighted its international commercial experience.
According to the proposal, the company had spent the previous four years importing fuel oil from several countries while establishing business relationships with international suppliers of fuel oil, LPG and LNG.
It argued that these relationships, together with its storage, transportation and marketing infrastructure, positioned it to meet Bangladesh’s growing fuel demand once government approval was granted.
The proposal also claimed that direct imports would help expand LPG supplies to underserved regions.
“It has not been possible to ensure 100 percent gas in most regions of the country.”
It continued: “By creating a proper supply chain through imports, LPG can be supplied to the people of those regions.”
BOGCL further argued that increased competition would help stabilise market prices.
“It will be possible to expand this market and the market price will be controlled.
The proposal concludes with a direct appeal to the government.
“I humbly request that Bashundhara Oil and Gas Company Limited be allowed to import LPG and LNG under its own management in order to become a partner in the country’s development.”
It adds that approval would enable the company to supply affordable LPG and LNG for households, industry and transport while helping Bangladesh address its long-term primary energy challenges.
Separate Proposal by Bashundhara Multi Trading
In a separate application dated 28 April 2026, Bashundhara Multi Trading Limited, another concern of the Bashundhara Group, also sought government permission to import LPG.
Unlike BOGCL’s broader proposal, this application focused primarily on addressing immediate industrial demand and supply shortages.
The company argued that geopolitical tensions in the Middle East, international market volatility and domestic supply constraints were disrupting Bangladesh’s LPG market.
According to the proposal, Bashundhara Multi International Trading had signed a business agreement with an overseas trading partner to facilitate LPG imports.
The company argued that uninterrupted LPG supplies were essential for industrial production and warned that delays in granting import permission could adversely affect manufacturing.
It also alleged that supply shortages had enabled some traders to manipulate the market.
“The domestic market is being exploited and some unscrupulous traders are taking advantage of this opportunity to make extra money,” the proposal says.
The company maintained that allowing it to import LPG would protect industrial production, preserve investment, generate government revenue and support environmental sustainability.
The application concludes with a request for official approval.
“The department’s permission is required.”
Common objective, different emphasis
Although submitted separately, the two proposals pursue the same objective while emphasising different priorities.
BOGCL focused on long-term energy security, infrastructure capability, market expansion and the import of both LPG and LNG.
By contrast, Bashundhara Multi International Trading concentrated on addressing immediate LPG shortages, supporting industrial production and preventing market manipulation.
Together, the documents illustrate a broader strategy by the Bashundhara Group to establish itself as a major participant in Bangladesh’s fuel import sector through separate specialised business entities.
The proposals do not indicate whether the ministry immediately approved either application.
Company and Government Responses
A senior official of Bashundhara Multi Trading Limited told Just Energy News that the company had already received approval from the Ministry of Commerce to procure bulk LPG for supply to Bashundhara LP Gas Ltd.
“We are now seeking a No Objection Certificate (NOC) from the Ministry of Power, Energy and Mineral Resources to import LPG,” the official said.
Asked why Bashundhara LP Gas had not imported LPG directly despite holding the necessary licence, the official said the company had been unable to proceed because of difficulties in opening letters of credit (LCs).
Officials at the Ministry of Power, Energy and Mineral Resources, however, said all applications are processed in accordance with the LPG Policy 2017.
“We only follow the procedures laid down in the LPG Policy 2017,” one ministry official said.
Another official, speaking on condition of anonymity, said many applicants had failed to comply fully with the policy requirements.
“Most applicants in the LPG industry have been reluctant to follow the prescribed procedures,” the official said.