The government of Bangladesh has approved the import of one cargo of liquefied natural gas (LNG) from South Korea at a cost of Tk 608.14 crore in a bid to meet the country’s growing energy demands.
The decision was made following the Public Procurement Rules, 2008, through an international quotation process from the spot market.
The approval was granted at a meeting of the Advisory Council Committee on Government Purchase (CCGP) held on Tuesday at the Cabinet Division conference room in the Secretariat, chaired by Economic Affairs Advisor Dr. Salehuddin Ahmed.
According to meeting sources, state-owned Petrobangla invited bids from 23 companies that have signed the Master Sale and Purchase Agreement (MSPA) for LNG supply. After evaluation, the committee recommended the lowest bidder, South Korea’s POSCO International Corporation, to supply the LNG cargo.
The approved shipment will comprise 3.36 million MMBtu of LNG, costing Tk 608,14,09,152.
This follows a similar approval on May 20, when the CCGP gave the green light for another spot market LNG import. That cargo, to be sourced from Singapore-based Gunvor Singapore Pte Ltd, will cost Tk 586.46 crore.
These imports are part of the government’s broader effort to ensure uninterrupted energy supply amid rising domestic demand.
Rice Bran Oil for TCB at Tk 71.77 Crore
In another major decision, the government approved the purchase of 4.5 million liters of refined rice bran oil for the Trading Corporation of Bangladesh (TCB) to be sold at subsidized rates to low-income households.
The oil will be procured locally from Majumder Bran Oil Mills Limited through a national open tender process at a total cost of Tk 71.77 crore, with each liter priced at Tk 159.50.
This decision follows a previous approval on May 13 for the purchase of 11 million liters of rice bran oil from four local suppliers at a slightly higher rate of Tk 161 per litre, totaling Tk 177.10 crore. Compared to that deal, the government has managed to reduce the per-liter cost by Tk 1.50 in this latest procurement.
Fertilizer Imports from Saudi Arabia and UAE at Tk 484 Crore
To ensure adequate fertilizer supply for the upcoming cultivation season, the government has greenlit the import of 70,000 metric tonnes of fertilizer — 30,000 metric tonnes of bulk granular urea from the United Arab Emirates and 40,000 metric tonnes of DAP (Diammonium Phosphate) from Saudi Arabia — at a combined cost of Tk 484.15 crore.
The urea fertilizer will be procured from UAE-based Fertiglobe Distribution Ltd for Tk 138.16 crore at a unit price of $377.50 per metric tonne. The DAP fertilizer, under a government-to-government agreement with Ma’aden, Saudi Arabia, will cost Tk 345.99 crore, with each metric tonne priced at $709.