Bangladesh purchases LNG at lower rates as prices fall in global market

Bangladesh has purchased LNG and fertiliser at lower prices from the international market compared to previous rates as prices of the two products fall on the international market.

Such an indication was found from the government's latest purchase of the two essential products, reports UNB.

The approval of the Cabinet Committee on Public Purchase to the latest purchase shows that Petrobangla has imported 3.36 million MMBtu of LNG from Vitol Asia Pte Ltd, Singapore at a per unit price at $25.75.

The total value of the consignment was Tk 8.87 billion.

The per unit price of the last consignment's LNG was $26.40 which at one stage went to $39 following the start of the Russia-Ukraine war.

Similarly, the price of fertiliser witnessed a big fall as the Bangladesh Chemical Industries Corporation (BCIC) bought 30,000 tonnes of bagged granular urea fertiliser with each metric ton's price at $671 while price of each ton of the last consignment was $876 and at one stage it crossed $900.

The 30,000 tonnes of bulk fertiliser this time costs Tk 1.75 billion, said Zillur Rahman, additional secretary of the Cabinet Division, who briefed reporters.

Meanwhile, the Cabinet committee approved a proposal to award a Tk 4.40 billion contract to Joint Venture (1) ZHEC (2) BOW and (3) SMEDRIC, Hong Kong to do civil construction works for set up a water treatment plant at Bangabandhu Sheikh Mujib Industrial City at Mirsarai in Chattagram.

Another proposal of the Department of Public Works received the approval of the committee to award Tk 1.92 billion contract to Mazid Sons Construction Ltd. to build a 25-story apartment complex at Green City Housing in Ropppur Nuclear Power Plant project.