To reduce reliance on volatile spot markets, Bangladesh plans to import 1 MTPA of LNG from Saudi Aramco under a long-term deal, following a similar agreement with US-based Argent LLC for up to 5 MTPA LNG. Aramco’s proposal is under negotiation, with pricing expected to be lower than current spot rates. This move comes as Bangladesh struggles with high LNG costs—recently paying $16.43 per MMBtu, about 24% above global rates due to payment delays. The energy crisis is worsening as natural gas output declines and import dependency rises. Bangladesh’s current gas supply stands at 2.85 Bcfd, while demand exceeds 4 Bcfd, leading to rationing for industries and power plants. Existing LNG imports from Qatar and OQ Trading are insufficient, making new long-term partnerships crucial. Meanwhile, the US deal with Argent LLC, signed in January, marks a key step in securing a stable energy supply for industrial expansion and strengthening US-Bangladesh ties.
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