Offshore Gas Tender Fails to Attract International Bidders

Industry: Energy & Power, LNG

Petrobangla had floated the tender in March, offering attractive terms like profit repatriation and market-based pricing, following past failures to attract bidders. The lack of submissions surprised experts, given the region’s high gas potential, and raised questions about promotional efforts or gaps in the process. Petrobangla plans to analyze the issue, consult stakeholders, and re-evaluate the tender to address any shortcomings.Despite initial interest from seven global oil and gas companies, none submitted bids for gas exploration in the Bay of Bengal by the extended deadline.

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