DHAKA: Bangladesh is turning to the United States for a long-term liquefied natural gas supply deal as it seeks to shore up energy supplies amid disruptions in global gas markets caused by the US-Israeli conflict with Iran.
The government on Wednesday approved the purchase of 117 LNG cargoes from US-based Gunvor between 2026 and 2038 under a state-to-state agreement, alongside eight cargoes from other international suppliers through direct procurement.
Under the US deal, Bangladesh will buy five cargoes in 2026, six in 2027 and six in 2028. Three of the 2028 cargoes, along with all cargoes in 2026 and 2027, will be priced at the Japan Korea Marker (JKM) index plus 8.75 cents per million British thermal units (mmBtu).
The remaining three cargoes in 2028 and 10 cargoes a year from 2029 to 2038 will be priced at 121 percent of the US Henry Hub benchmark plus USD5.20 per mmBtu.
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