Gas Processing & LNG is Produced by Gulf Publishing Holdings LLC



Bangladesh to increase spot LNG imports because of rising demand

Bangladesh is expected to double its imports of LNG from the spot market starting in December as demand rises and to capitalize on low prices of the super-chilled fuel, according to two energy officials.

Bangladesh’s state-run Rupantarita Prakritik Gas Company is seeking 138,000 cubic metres of so-called lean LNG, which has a lower energy content, for Dec. 9-10 delivery, said the two officials, one from Rupantarita and one from Petrobangla, the state-owned company that is in charge of LNG imports into the South Asian country.

Rupantarita, a subsidiary of Petrobangla, may issue a second tender next week for a similar volume of lean LNG for end-December delivery, the two officials said.

The second tender will increase the number of LNG cargoes purchased under short-term, or spot, contracts, to two per month from one currently, said the Petrobangla official. The imports are needed to meet rising demand and as prices remain lower than normal.

Spot LNG prices for Asia LNG-AS were estimated at $5.50 per million British thermal units (mmBtu), which is up from the record low hit earlier this year but still 29.6% below its five-year average.

Rupantarita Prakritik bought Bangladesh’s first spot LNG cargo ever from trading house Vitol at $3.8321 per mmBtu for delivery over late September to early October. The company is also currently assessing offers for its second spot cargo for Nov. 12-13 delivery.

Bangladesh, with a population of about 160 million people, is expected to become a major LNG importer in Asia, along with Pakistan and India, as domestic gas supplies fall.

The country currently has two floating storage and regasification units (FSRUs) with a total regasification capacity of 1 billion cubic feet per day - equal to about 7.5 million tons a year.

Bangladesh imported 3.89 million tons of LNG in 2019 through two long-term contracts with Oman and Qatar.

Reporting by Ruma Paul; Additional reporting by Jessica Jaganathan in Singapore; Editing by Christian Schmollinger


Copyright © 2019. All market data is provided by Barchart Solutions. Futures: at least a 10 minute delay. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.

                                  CMEGroup                                     Icelogo

FEATURED COLUMNS

Editorial Comment
-Adrienne Blume
With Henry Hub (HH) natural gas prices almost twice as high year over year, as of the time of writing in late October, and similarly record-high prices in Europe and Asia driving competition for LNG, the gas market is rife with tension.
Executive Viewpoint: Building the foundation for a low-emission LNG facility
-Jennifer Adams
Electric LNG (i.e., eLNG) has emerged as a powerful decarbonization pathway for LNG project stakeholders.
Maintenance and Reliability: Looking beyond processing efficiency to optimize operations
-Adam Bozick
When facility owners think about plant optimization, the emphasis often is on maximizing throughput and, in many cases, that means focusing on processing equipment.


Throughput optimization for pipelines and gas plants

Register Now

Many processes within oil and gas pipelines and processing plants depend on maintaining specific temperatures and pressures at which the process fluids are liquids or gases. In addition, anytime water is a component in the process fluid hydrates can form and plug piping and vessels. Learn how Sensia’s Throughput optimization solution allows operators, and control systems to “see inside” the process in real time to understand where the facility is operating with respect to critical physical constants, including the phase envelope and hydrate temperature. This insight allows for more stable operation, reduced energy expenditure and associated emissions, and greater facility throughput. Case studies will include controlling methanol injection, managing heaters, virtual sensors for sulfur recovery units and more.

April 1, 2021 10:00 AM CDT

Register Now

 

Please read our Term and Conditions, Cookies Policy, and Privacy Policy before using the site. All material subject to strictly enforced copyright laws.
© 2022 Gulf Publishing Holdings LLC.