2 months ago
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Bangladesh is acceptable to wage sharply higher prices for liquefied earthy state (LNG) from the spot marketplace after Qatar suspended deliveries amid the escalating Iran–Israel conflict, forcing authorities to ration gas and unopen respective fertiliser plants.
State-run Petrobangla has arranged 2 spot LNG cargoes for March to support supplies flowing, officials said.
One shipment from Gunvor volition outgo $28.28 per cardinal British thermal units (mmBtu) and is expected to get on March 15–16, portion different from Vitol, priced at $23.08 per mmBtu, is owed connected for March 18-19, a elder Petrobangla authoritative said.
The prices person jumped sharply from the year’s earlier purchases.
In January, Bangladesh secured spot cargoes astatine astir $10 per mmBtu, including a 3.36 cardinal mmBtu shipment from TotalEnergies for Jan. 4–5 transportation astatine $10.37 per mmBtu, and different from Posco International for Jan. 9–10 transportation astatine $9.99 per mmBtu.
A 2nd Petrobangla authoritative said the authorities had nary prime but to crook to the spot marketplace aft QatarEnergy halted its semipermanent declaration shipments and invoked unit majeure due to the fact that of disruptions linked to the Iran–Israel conflict.
“With supplies nether the semipermanent declaration disrupted, we had to put cargoes from the spot marketplace contempt the precocious prices,” the authoritative said.
Both officials spoke on information of anonymity arsenic they were not authorised to talk to media.
The proviso crunch has spurred the authorities to statesman gas rationing, including shutting down 4 fertiliser factories to prioritise power procreation and different indispensable sectors.
Officials warned that if the disruption persists, Bangladesh whitethorn person to beryllium much heavy connected the volatile spot LNG market, further straining its vigor import bill.
