Wed, 22 Mar 2023

Bangladesh to import LNG from spot market

09 Feb 2023, 02:05 GMT+10

DHAKA, Feb. 8 (Xinhua) -- Bangladeshi Prime Minister Sheikh Hasina said on Wednesday that the South Asian country will import liquefied natural gas (LNG) from spot market to meet the demand of gas for power generation.

"The process of importing LNG from the spot market has already been adopted to meet the demand of gas," she said, while responding to a question from a lawmaker in the parliament.

Hasina said that in 2008 the daily gas production capacity in Bangladesh was 1,744 million cubic feet, while in 2018 the production capacity increased to 2,750 million cubic feet, the official BSS news agency reported.

"And currently the daily gas production capacity is 2,300 million cubic feet," she added.

The prime minister said it was important to import LNG at a high price from the spot market to meet the increased demand of gas for power generation during the current agricultural irrigation season, Ramadan and summer, as well as to keep production uninterrupted in the industrial sector.

The prime minister said the government has taken steps to reduce unnecessary expenditure in order to continue the flow of necessary resources to the productive and social security sectors.

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