Bangladesh is set to resume importing liquefied natural gas (LNG) from global spot market soon after almost a seven-month gap as it looks to ensure fuel supply after the recent price hike.
Meanwhile, speaking to the media a day after the natural-gas rates were jacked up by executive order — Bangladesh Government raised the natural gas tariffs by up to 178.88% through an executive order on Wednesday, six months after the previous hike, apparently to secure funds for importing increased quantities of LNG and to meet the domestic demand — Petrobangla Chairman Zanendra Nath Sarker reportedly maintained efforts were on to import at least one LNG cargo from the spot market in February even if the main target is to ramp up Bangladesh’s overall natural-gas output to more than 3,000 million cubic feet per day (mmcfd) from the current level of around 2,670mmcfd on the back of industries seeking uninterrupted gas supply to keep the wheels rolling on full scale amidst economic rebound.
For information, PetroBangla is a Government-owned national oil company of Bangladesh, which produces, explores, transports, manages and sells oil, natural gas and other mineral resources.
