Bangladesh shortlists 17 companies for spot-LNG tender

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Bangladesh shortlists 17 companies for spot-LNG tender

Bangladesh, the fastest-growing economy across the globe with a GDP growth of 8.13 per cent as of 2018-19 fiscal year according to IMF (International Monetary Fund), to the east of India on the Bay of Bengal, had shortlisted 17 companies for its tender process to buy roughly 1 million tonnes of LNG (Liquified Natural Gas) next year capitalizing on the super-chilled fuel’s multi-year low price, two industry officials of PetroBangla, accountable for LNG imports in to the South Asia’s second-largest economy revealed on Sunday, the 29th of September 2019, on condition of anonymity.

On top of that, PetroBangla Officials briefed directly over the subject-matter had also added on Sunday (September 29th) that the company had been sketching out a plan to sign sales and purchase accords with the shortlisted companies following a cabinet approval.

Meanwhile, adding that the company had received a go-ahead signal to a spot-tender, another PetroBangla official said on condition of anonymity on Sunday (September 29th), “We are moving ahead with plans to import LNG through the spot market by shortlisting 17 companies out of a total of 43,” while the shortlisted companies are Mitsui, Osaka Gas, Marubeni, AOT Energy, Diamond Gas, Excelerate Energy, Jera, Vitol, Gazprom, Trafigura, Woodside Petroleum, Eni, CNOOC, Petronas, Chevron and Cheniere.

Besides, the 29th-largest economy across the globe on Purchasing Power Parity (PPP), Bangladesh, a nation of roughly 180 million people is expected to become a major importer of Liquified Natural Gas in Asia alongside its neighbouring India and Pakistan, as its domestic gas supplies had been falling quicker-than-anticipated, industry sources revealed.