Regional LNG: Bangladesh issues tenders for three spot LNG cargoes

Bangladesh’s state-run Rupantarita Prakritik Gas Company Ltd (RPGCL) has issued two new tenders and reissued a previous one to procure three spot LNG cargoes.

The new tenders are aimed at securing deliveries for the December 14-15 and December 20-21 windows, while the reissued tender is scheduled for the December 7-8 delivery window, thefinancialexpress.com.bd reported on Thursday.

The re-tendering was necessary after only two bidders participated in the original tender, falling short of the minimum three bidders required under Bangladesh’s Public Procurement Rules 2008.

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Each of the three spot LNG cargoes is expected to have a volume of approximately 3.36 trillion British thermal units (Btu). The deadline for submitting bids is November 10. Successful bidders will be required to deliver the cargoes to Moheshkhali Island in the Bay of Bengal, with options to discharge them at either of the country’s two Floating Storage Regasification Units (FSRUs) on the island.

Meanwhile, the Tender Evaluation Committee has identified responsive bidders for the previous two spot LNG tenders, which cover delivery windows from November 23-24 and December 4-5. The awards for these tenders are expected later this week.

Bangladesh had previously awarded two spot LNG cargo tenders to Excelerate Energy for the November 12-13 and November 16-17 delivery windows, with prices set at $14.55 per million Btu and $14.65 per million Btu, respectively.

The country continues to import LNG from its two long-term suppliers, Qatargas and OQ Trading International, for re-gasification at its two operational FSRUs.

Editing by Reiner Simanjuntak