Bangladesh faces steep rise in LNG prices after Qatar supply halt
The Hindu
Bangladesh faces soaring LNG prices after Qatar halts supplies, prompting gas rationing and shutdowns of fertiliser plants.
Bangladesh is set to pay sharply higher prices for liquefied natural gas (LNG) from the spot market after Qatar suspended deliveries amid the escalating Iran–Israel conflict, forcing authorities to ration gas and shut several fertiliser plants.
State-run Petrobangla has arranged two spot LNG cargoes for March to keep supplies flowing, officials said.
One shipment from Gunvor will cost $28.28 per million British thermal units (mmBtu) and is expected to arrive on March 15–16, while another from Vitol, priced at $23.08 per mmBtu, is due on for March 18-19, a senior Petrobangla official said.
The prices have jumped sharply from the year’s earlier purchases.
In January, Bangladesh secured spot cargoes at around $10 per mmBtu, including a 3.36 million mmBtu shipment from TotalEnergies for Jan. 4–5 delivery at $10.37 per mmBtu, and another from Posco International for Jan. 9–10 delivery at $9.99 per mmBtu.
A second Petrobangla official said the government had no choice but to turn to the spot market after QatarEnergy halted its long-term contract shipments and invoked force majeure because of disruptions linked to the Iran–Israel conflict.
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