The interim government of Bangladesh has announced intentions to acquire an additional 33,000 tonnes of liquefied natural gas (LNG) at a cost of US $ 56.36 million from the spot market in an effort to ease the country’s energy supply shortages.
The transaction was approved by the Advisory Committee on Government Purchases. MS Gunvor Singapore Pte, a Singaporean supplier, will supply the LNG at a cost of US $ 13.93 per million British thermal units.
Following the purchase of two LNG consignments from MS Gunvor earlier this month at prices of US $ 13.57 and US $ 13.77 per million British thermal units, respectively, comes this decision. The consequences of Bangladesh’s gas crisis are being felt in a number of industries, but most notably in the ready-made garment (RMG) sector, which is strongly dependent on a steady supply of energy for production.
According to industry sources, the continuous gas issue has caused schedule interruptions for production, forcing many industries to either suspend operations entirely or operate at reduced capacity. Due to electricity constraints, the RMG sector, which is an essential component of Bangladesh’s economy and a significant employer, is seeing more difficulties in fulfilling foreign orders.
