Vitol Asia Pte Ltd, an energy and commodities company, has sought USD$175 million from Bangladesh as outstanding LNG supply bills.
A high-powered team of Vitol Asia met Energy and Mineral Resources Division Secretary Md Nurul Alam at Bangladesh Secretariat in Dhaka on Monday.
“We have met with the EMRD secretary and submitted our earnest request to pay the bills to ensure uninterrupted supply of fuels to Bangladesh,” Vitol Asia Pte Ltd local representative Dr Ezazur Rahman told the Just Energy News after the meeting.
According to Dr Ezazur Rahman, who is also managing director of 7Mark, the meeting was held in a cordial environment.
Vitol Asia Pte Ltd top officials including NG Jen Wei, Fong Jun Kang, and Soong Nee Emmeline Low also attended the meeting.
In February, 2024, the government approved to import three consignments including a consignment from Vitol Asia from the spot market as part of its plan to import 13 cargoes of liquefied natural gas (LNG) in the first half of the current fiscal year.
But the company was yet to get the bills, official sources said.
Meanwhile, the government already signed a supplementary deal with the International Islamic Trade Finance Corporation (ITFC) to fund the LNG purchases.
Under the new deal, Bangladesh will be able to pay up to $500 million for importing LNG out of the $2.1 billion short-term loan.
