Bangladesh seeks LNG cargo for late January delivery
- "This is really difficult to get competitive offers in this situation when prices are too high but we'll continue our efforts," he told Reuters. He expects spot prices to stay high until April or May, he said.
SINGAPORE/DHAKA: Bangladesh's state-owned Rupantarita Prakritik Gas Company is seeking one liquefied natural gas (LNG) cargo for delivery in late January through a tender, two industry sources said on Friday.
It is seeking the cargo for delivery over Jan. 25-27 in a tender that closes on Dec. 22, they said.
Rupantarita Prakritik Gas Company, which is in charge of Bangladesh's LNG imports, has cancelled five recent tenders due to high bidding prices received, while its last tender that closed on Dec. 15 did not receive any offers, a senior official at the firm said.
"This is really difficult to get competitive offers in this situation when prices are too high but we'll continue our efforts," he told Reuters. He expects spot prices to stay high until April or May, he said.
Asian spot LNG prices for cargoes to be delivered in January rose to a six-year high this week, as supply of the super-chilled fuel remained tight due to unplanned maintenance at several plants globally at a time when demand for the fuel for use in winter heating surges.
Bangladesh has two long-term contracts with Qatargas and Oman Trading International.
With domestic gas production dwindling, the nation of 160 million people is set to be a significant player in the global LNG market, alongside Pakistan and India.
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