The Advisory Council Committee on Economic Affairs (ACCEA) has approved the extension of LNG supply contracts for seven companies, allowing them to continue supplying LNG from the international spot market. Petrobangla, the state-owned company, will use LSP software for LNG imports until March 2025. Petrobangla has been importing LNG from 23 companies under the Master Sale and Purchase Agreement (MSPA). The ACCEA also approved the extension of contract periods and LSP software usage for 16 of these companies. This move aims to meet urgent gas needs for the country’s power, industry, and fertilizer sectors. Additionally, the Advisory Council Committee on Government Purchase (ACCGP) approved Petrobangla’s proposal to import one LNG cargo from Posco International Corporation, South Korea, at a cost of Tk 692.99 crore ($14.69 per MMBtu). These measures are intended to ensure a stable supply of LNG to meet the country’s growing energy demands.
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