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To meet growing domestic energy demands, the government has approved the import of a liquefied natural gas (LNG) cargo from South Korea at a cost of Tk 608.14 crore. The decision was made under the Public Procurement Rules, 2008, through an international quotation process in the spot market.
The approval came during a meeting of the Cabinet Committee on Government Purchase, held on Tuesday at the Secretariat and chaired by Finance Adviser Dr Salehuddin Ahmed.
According to meeting sources, state-run Petrobangla had invited proposals from 23 qualified suppliers with whom it has Master Sale and Purchase Agreements (MSPAs). After evaluating the bids, the committee selected POSCO International Corporation of South Korea as the lowest bidder. The cargo, comprising 3.36 million MMBtu of LNG, will be imported at a total cost of Tk 608.14 crore.
This marks the second LNG cargo approved this month through spot market procurement.
On May 20, the same committee had approved another LNG shipment from ‘Gunvor Singapore Pte Ltd’, valued at Tk 586.46 crore, under a similar international procurement process.
The repeated use of the spot market highlights Bangladesh’s strategic approach to secure short-term energy supplies amid volatile global energy prices and increasing domestic consumption.
With demand for natural gas continuing to rise across sectors such as industry, power generation, and household usage, Bangladesh has been actively diversifying its LNG sourcing strategies, balancing long-term contracts with flexible spot market purchases.
