DHAKA, Feb. 7 (Xinhua) -- The Bangladeshi government has approved the purchase of three liquified natural gas (LNG) cargoes from the international spot market to meet the domestic gas demand.
Bangladesh's Cabinet Committee on Government Purchase (CCGP) on Wednesday approved three separate proposals to import three LNG cargoes, with Finance Minister Abul Hassan Mahmood Ali presiding over the meeting.
In line with the approved proposals of the Energy and Mineral Resources Division, state-owned Petrobangla will sign Master Sale and Purchase Agreements (MSPAs) with Golbar Singapore Limited and Vitol Asia Pte Ltd of Singapore to import the LNG cargoes.
Bangladesh had earlier planned to import a total of 13 LNG cargoes from January to June this year.
The Bangladeshi government has already signed such kind of MSPA with several other firms including PetroChina.
With the global price hike of fuel oil and shortage of supplies, Bangladesh is importing dozens of LNG cargoes from long-term suppliers to cope with the mounting demand. ■