Staff Reporter :
The Advisory Council Committee on Economic Affairs (ACCEA) has approved the extension of liquefied natural gas (LNG) supply contracts for seven companies. Finance Adviser Dr Salehuddin Ahmed presided over the meeting on Wednesday.
The approved companies will continue supplying LNG from the international spot market under the existing Master Sale and Purchase Agreements (MSPAs) with Petrobangla, the state-owned oil, gas, and mineral resources corporation.
As part of the decision, the ACCEA also endorsed the use of LSP software for managing LNG imports until March 2025.
According to meeting sources, Petrobangla currently imports LNG from 23 international companies operating under MSPAs. These imports are conducted through international tenders in compliance with Rule-85 of the ‘Public Procurement Rule (PPR)-2008.’
Contracts with eight of these companies expired on 17 December 2024, while agreements with six others are set to end on 2 February 2025. Meanwhile, MSPA agreements with 27 new companies are under process and expected to be finalised within approximately 45 days.
To address the country’s urgent gas requirements for its power, industrial, and fertiliser sectors, the ACCEA granted in-principle approval for extending contract periods and the continued use of LSP software with 16 of the 23 companies currently engaged under MSPAs.
Additionally, the Advisory Council Committee on Government Purchase (ACCGP) approved a proposal from Petrobangla to procure one LNG cargo from the international spot market. South Korean firm Posco International Corporation will supply the LNG cargo at a cost of Tk 692.99 crore, with a unit price of $14.69 per MMBtu.
