Dhaka: The Cabinet Committee on Government Purchase (CCGP) has approved a proposal to procure two cargoes of liquefied natural gas (LNG) for delivery in September, with prices set at over US$24 per million British thermal units (MMBtu). The decision was made during a committee meeting at the Secretariat, presided over by Finance Minister Amir Khosru Mahmud Chowdhury.

According to United News of Bangladesh, the approved proposal involves Posco International Corporation, South Korea’s largest trading company, supplying one LNG cargo for delivery on September 13-14 at a rate of US$24.625 per MMBtu. Additionally, TotalEnergies Gas and Power Ltd, a UK-based company, will supply another cargo slated for delivery on September 23-24 at a price of US$24.25 per MMBtu.

The Ministry of Power, Energy and Mineral Resources submitted the proposal to the committee under Rule 105(3)(a) of the Public Procurement Rules 2025, utilizing the Request for Quotation (International) process. The committee’s approval followed a thorough review of the procurement process and the selection of the recommended bidders.

This approval is part of Bangladesh’s ongoing strategy to rely on imported LNG to satisfy its increasing demand for natural gas, which is crucial for power generation and industrial consumption.