Cabinet Committee Approves Purchase of Eight LNG Cargoes to Ensure Gas Supply

Online Desk : The Cabinet Committee on Economic Affairs has given policy approval in principle for the emergency purchase of eight liquefied natural gas (LNG) cargoes from four international suppliers through the Direct Procurement Method (DPM) to ensure an uninterrupted gas supply amid ongoing geopolitical instability.

The decision was taken at the committee’s 24th meeting of the year, held on Thursday at the Cabinet Division Conference Room at the Bangladesh Secretariat with Finance Minister Amir Khosru Mahmud Chowdhury in the chair.

Under the proposal, Bangladesh will procure two LNG cargoes each from Blackcube International Ltd of the UK, Global Fuel Supplies Pte Ltd of Australia, Plentitude Energy Sdn Bhd of Malaysia and Maxwell International SPC of Oman through international direct procurement to meet the country’s urgent gas demand.

According to the meeting outcomes, the emergency procurement was proposed due to the unstable geopolitical situation following the Iran-US-Israel conflict, which has raised concerns over global energy supplies.

The committee also recommended policy approval for the procurement of 5,000 metric tonnes (±5 percent) of liquefied petroleum gas (LPG) from Speed Marketing Corporation (Speed Group) through direct international procurement at the Saudi Aramco Contract Price (CP) plus US$97 per metric tonne on a CFR basis.

The LPG consignment will comprise 35-40 percent propane and 60-65 percent butane. The government said the purchase is aimed at meeting emergency domestic demand, increasing the state’s share in the LPG market and helping stabilise prices.

In the transport sector, the committee recommended policy approval for a government-funded project to procure around 200 electric buses for the Bangladesh Road Transport Corporation (BRTC), including buses designated for women passengers. The project also includes the establishment of charging stations and related infrastructure through the Direct Procurement Method.

Meanwhile, a proposal seeking policy approval for the draft “Bangladesh Onshore Model Production Sharing Contract (PSC) 2026 (Plain Lands)”, submitted by the Energy and Mineral Resources Division, was withdrawn from the meeting.