Today, the Advisers Council Committee on Economic Affairs authorized a proposal in principle to procure LNG from the spot market in order to address the country’s emergency gas demand.
The LNG will be procured from approximately 23 listed firms that have signed a Master Sale Purchase Agreement (MSPA) with Petrobangla to address the emergency gas requirement in accordance with the Public Procurement Rules, 2008.
Today, the Advisers Council Committee on Economic Affairs convened its inaugural meeting of the year at the Cabinet Division conference room of the Bangladesh Secretariat. Dr. Salehuddin Ahmed, the interim government’s advisor on the Ministry of Finance and Commerce, presided over the meeting. The approval was granted.
The Finance Adviser informed reporters following the meeting that the meeting had approved an additional proposal in principle from the Ministry of Industries to procure urea fertilizer from Fertiglobe Distribution Limited, UAE, under a G2G basis for the current fiscal year (FY25).
When queried about the specifics of the firms from which the LNG would be procured, Dr. Salehuddin stated that the issues were addressed during the meeting. Additionally, it would be guaranteed that the importation of LNG would be smooth under this arrangement.
Another questioner was informed that LNG would be obtained from the spot market at a reasonable price.
