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The government will purchase an LNG worth 1274 crore taka from Singapore.

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The government will purchase an LNG worth 1274 crore taka from Singapore. | The government has approved the purchase of three cargoes of liquefied natural gas (LNG) from two companies in Singapore to meet the country's gas demand. The total cost for this procurement will be 1274 crore 11 lakh 76 thousand 520 taka. This approval was given at the third meeting of the Government Procurement Subcommittee of the Cabinet Division, chaired by Finance Minister Abul Hassan Mahmud Ali, held at the conference room of the Secretariat on Wednesday.

The government has approved the purchase of three cargoes of liquefied natural gas (LNG) from two companies in Singapore to meet the country’s gas demand. The total cost for this procurement will be 1274 crore 11 lakh 76 thousand 520 taka. This approval was given at the third meeting of the Government Procurement Subcommittee of the Cabinet Division, chaired by Finance Minister Abul Hassan Mahmud Ali, held at the conference room of the Secretariat on Wednesday.

A total of seven proposals were presented at the meeting of the Government Procurement Subcommittee. Among them, one proposal from the Roads and Highways Division, two from the Ministry of Shipping, and four from the Ministry of Energy and Mineral Resources were presented. All the proposals were approved.

At the end of the meeting, Additional Secretary of the Cabinet Division Saied Mahmud Khan informed the journalists that as per the provisions of the Rapid Supply Enhancement (Special Provisions) Act 2010 (Amendment 2021), quotations will be collected from the signatory companies of the Master Sale and Purchase Agreement (MSPA) to import LNG cargo.

He said, according to the proposals of the Ministry of Energy and Mineral Resources, approval has been given to procure one cargo of LNG from MS Gulfbar Private Limited, Singapore, at a cost of 425 crore 81 lakh 57 thousand 940 taka. Each MMBTU will cost 9 decimal 8470 dollars, previously it was 9 decimal 930 dollars.

Additionally, as per the proposals of the Ministry of Energy and Mineral Resources, approval has been given to procure one cargo of LNG from MS Vitol Asia Private Limited, Singapore, at a cost of 425 crore 81 lakh 57 thousand 940 taka. Each MMBTU will cost 9 decimal 770 dollars.

Furthermore, as per the proposals of the Ministry of Energy and Mineral Resources, approval has been given to procure one cargo of LNG from MS Vitol Asia Private Limited, Singapore, at a cost of 422 crore 48 lakh 60 thousand 640 taka. Each MMBTU will cost 9 decimal 770 dollars.

Earlier, in a meeting of the Government Procurement Subcommittee held on January 31, approval was given to procure LNG from M/s Vitol Asia Pte Limited, a Singapore-based company, for a cargo of LNG at a cost of 429 crore 40 lakh 50 thousand taka.

On January 22, approval was given by the Government Procurement Subcommittee for the purchase of one cargo of LNG from Total Energy Gas and Power Limited, a Swiss-based company, for a cargo of LNG in February. The total expenditure, including tax and VAT, for importing each MMBTU will be estimated at 470 crore 48 lakh 60 thousand taka.

It is worth mentioning that from January to June of the current year 2024, approval has been given by the Ministry of Power, Energy and Mineral Resources (Prime Minister Sheikh Hasina) to procure 13 cargoes of LNG from the spot market. Due to the increase in the price of LNG in the spot market compared to the normal price, LNG import from the spot market was suspended from July 2022 to January 2023. To meet the demand for gas in the industrial sector, captive power and industrial units, LNG is being procured from the spot market since February 2023.

Under the package 03 of the “Rehabilitation and Development of Old Brahmaputra, Dharla, Tullai and Punarbhaba Rivers Navigation” project of Bangladesh Inland Water Transport Authority (BIWTA) within the jurisdiction of the Ministry of Shipping, approval has been given to purchase a cutter suction dredger for dredging work from kilometer 195 to 202 of the old Brahmaputra River. The work has been awarded to Western Engineering Limited. The total cost will be 76 crore 66 lakh 19 thousand 100 taka.

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