Bangladesh planning to purchase two LNG consignments from SOCAR subsidiary

BAKU. June 4 (Interfax) - The government of Bangladesh has approved the purchase of several liquefied natural gas (LNG) consignments, including two cargoes from the Swiss company SOCAR Trading SA (the trading subsidiary of the State Oil Company of the Azerbaijani Republic, SOCAR), Bangladeshi media reported.

"The decision was made at a meeting of the government procurement committee on Wednesday chaired by Bangladeshi Finance Minister Amir Khosru Mahmud Chowdhury," the report said.

According to the decision, three LNG consignments will be purchased on the spot market.

One consignment will be supplied by BP Singapore Pte Ltd, and two by TotalEnergies Gas & Power Ltd (UK). The total cost of the purchase will be 23.72 billion taka, which is around $194 million at the current exchange rate.

The delivery of these LNG consignments is scheduled in three separate time windows: June 26-27, June 30 to July 1, and July 6-7, 2026.

In addition, the committee recommended approving the acquisition of two more consignments from SOCAR Trading SA under an intergovernmental (G2G) procurement scheme.

"The supplies will be carried out on a short-term basis through direct purchase," the report said.

It is noted that SOCAR Trading SA has been designated as the recommended supplier. The price will be calculated using the formula JKM + $0.125 per MMBtu (million British thermal units).