Bangladesh’s RPGCL seeks fourth LNG cargo this year for April delivery

    Originally posted in The Business Standard on 04 March, 2023

    Bangladesh’s state-owned Rupantarita Prakritik Gas Company Ltd (RPGCL) has issued a tender seeking one liquefied natural gas (LNG) cargo for delivery between 6 and 7 April, two industry sources said on Friday.

    The sources added that the tender will close on 5 March.

    The tender is the fourth request by RPGCL, a subsidiary of state-owned Petrobangla, for a spot LNG cargo this year, reversing a government decision in July 2022 to halt purchases of the super-chilled fuel due to high prices.

    Its first tender, issued in late-January, was awarded to TotalEnergies at $19.74 per million British thermal units (mmBtu). The second tender was awarded to JERA, Japan’s biggest power generator, at $16.50/mmBtu, two Petrobangla officials said.

    RPGCL then issued its third tender in late February for a cargo to be delivered at end-March. It was awarded to energy trader Vitol Group at $16.10/mmBtu, said the sources.

    Vitol did not immediately respond to a request for comment.

    Bangladesh’s energy adviser to the prime minister said last month that it will buy 10-12 spot LNG cargoes between February and June if prices soften further.