RPGCL seeks three spot LNG cargoes

Bangladesh's Rupantarita Prakritik Gas (RPGCL), a unit of state-owned Petrobangla, has issued a new tender for three spot liquefied natural gas (LNG) shipments.

RPGCL said in a tender document that the delivery windows are August 4-5, August 21-22, and August 22-29.

The firm issued the tender to the 23 organizations that have signed the MSPA (master sale and purchase agreement) with Petrobangla.

The tender closes on July 13.

Before this tender, RGPCL invited bids for two spot LNG shipments with deliveries during August 3-4 and August 14-15.

Local media reports suggest that Bangladesh approved this week the purchase of one spot LNG shipment from Vitol Asia.

The price is reportedly at $12.62/MMBtu.

The World Bank recently approved a project aimed at helping Bangladesh’s state-owned company Petrobangla to secure LNG supplies.

According to the World Bank, the energy sector security enhancement project, worth $350 million, will “help improve gas supply security by facilitating access to cost-effective financing for Petrobangla.”

The World Bank said the project will utilize an IDA guarantee to mobilize up to $2.1 billion in private capital over seven years for new LNG imports.

Bangladesh currently imports LNG via two FSRU-based facilities, both of which feature Excelerate Energy’s FSRUs.

The 138,000-cbm FSRU Excellence serves Bangladesh’s first LNG import facility, Moheshkhali Floating LNG or MLNG, operated by Petrobangla.

Excelerate’s 138,000-cbm FSRU Summit LNG serves as the second LNG import facility operated by Summit.

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