Govt to buy 2 more LNG cargoes from spot market in July

The government has decided to buy two more liquefied natural gas (LNG) cargoes from the spot market in July to meet the mounting domestic demand amid the falling trend of the global energy market.

State-run Rupantarita Prakritik Gas Company Ltd (RPGCL) has floated tenders to purchase these LNG cargoes for delivery over July 14-15, and July 20-21 windows amid the persistent Middle East crisis and Strait of Hormuz disruptions.

The volume of the spot LNG cargo is approximately 3.36 million MMBtu each, according to a senior RPGCL official. The bid submission deadline is June 23, at 8:05 pm in the latest, he said. The cargoes are to be delivered to Moheshkhali Island, with an option to discharge to either of the country’s two floating storage re-gasification units.