Bangladesh plans to increase reliance on the volatile spot market for importing liquefied natural gas (LNG) in 2025 to meet growing industrial and power demands amid declining domestic gas production. State-run Petrobangla aims to import 115 LNG cargoes this year—59 from the spot market and 56 from long-term suppliers—marking a 33.72% rise from 2024. Spot market imports are set to double compared to last year, adding pressure on foreign currency reserves.
In 2024, 86 LNG cargoes were imported—56 from long-term suppliers and 30 from the spot market, with half of the spot cargoes arriving in the last three months. Supply disruptions at Summit and Excelerate Energy’s FSRUs affected imports earlier in 2024 but resumed operations with expanded capacities later in the year.
Bangladesh’s long-term LNG suppliers, Qatargas and OQ Trading, will provide a combined 56 cargoes in 2025, the minimum obligated under sales agreements. The declining domestic gas output, which fell from 2,050 mmcfd in December 2023 to 1,933 mmcfd in December 2024, coupled with soaring demand of 3,330 mmcfd from power, industry, and other sectors, underscores the growing reliance on LNG imports. Rationing of natural gas supplies will likely continue to manage the shortfall.
Source for more details:
