BD to Sign Long-Term LNG Import Contract with Oman

The government has decided to review contracts signed under the Quick Enhancement of Electricity and Energy Supply (Special Provision) Act 2010, commonly known as the indemnity act, which allowed public contracts to be awarded without tenders and shielded government actions in the energy sector from judicial scrutiny.

The Advisers Council Committee on Economic Affairs approved, in principle, a proposal for emergency LNG procurement from the spot market to address the country's gas demand. The LNG will be sourced from 23 firms under Master Sale Purchase Agreements with Petrobangla, following Public Procurement Rules, 2008.

Linde Bangladesh Ltd has declared a 4,100% cash dividend, the highest since its Dhaka Stock Exchange (DSE) listing. This follows a dramatic 4,596.5% increase in profit to Tk 631.68 crore as of July 31, 2024, compared to Tk 13.45 crore the previous year. The earnings per share (EPS) soared to Tk 415.08 from Tk 8.84, mainly due to a capital gain from selling shares of its subsidiary, Linde Industries Pvt Ltd. Net operating cash flow per share (NOCFPS) also rose to Tk 13.19 from Tk 8.38. Linde's share price jumped 17.83% to Tk 1,547.30 after the dividend announcement.

Bangladesh's interim government will import liquefied natural gas (LNG) from the spot market following the Public Procurement Rules 2008, marking a first for the country. The advisory committee on economic affairs approved this new process and the import of LNG from 23 enlisted companies with Master Sale and Purchase Agreements (MSPAs) with Petrobangla.

The White Paper Preparation Committee, led by Dr. Debapriya Bhattacharya, aims to investigate irregularities and corruption in Bangladesh's energy and power sector from the previous government’s tenure. The committee will also review agreements with foreign companies if needed. The white paper will address various sectors including macroeconomics, energy, health, education, and institutional issues such as banking, tax administration, capital flight, and regional disparities.

The extension of the Indo-Bangla Friendship Pipeline, planned to run from Dinajpur’s Parbatipur Upazila to Natore, faces delays due to ongoing political uncertainties, according to Bangladesh Petroleum Corporation (BPC) and Indian media reports.With a capacity to transport 1 million tonnes of high-speed diesel annually, the project was estimated to cost Rs 377 crore, of which Rs 285 crore of BD portion was covered by an Indian grant. BPC stated that while the proposal is agreed upon, it remains under review with no discussions on proceeding or halting the project.