The government is set to purchase two LNG cargoes from the spot market at nearly double the usual price to avert a potential energy crisis triggered by the Iran war and supply disruptions. The approval for the urgent LNG purchase was given at a meeting of the Cabinet Committee on Government Purchase last Wednesday. Earlier, Petrobangla Chairman Erfanul Haque said four LNG cargoes scheduled for March have already crossed the Strait of Hormuz, but two additional vessels expected on March 15 and 18 remain stuck. Petrobangla invited bids twice on Tuesday and Wednesday to purchase LNG from the spot market, but no bidders participated. The state agency later finalised the purchase of the two cargoes through direct negotiations in the spot market.

Source: Dhaka Tribune March 06, 2026 04:52 UTC