Bangladesh floats tenders to buy 3 LNG cargoes

Bangladesh has floated tenders to buy three more liquefied natural gas (LNG) cargoes from the spot market for April delivery in a desperate race to secure gas amid deepening turmoil in the Middle East.

State-run Rupantarita Prakritik Gas Co Ltd (RPGCL) sought delivery of the LNG cargoes in three phases between April 5 and April 13, a move that came four days after the company floated tenders to buy two cargoes of gas for March 15-16 and March 18-19 deliveries.

Bangladesh had to buy two LNG cargoes from the spot market after failing to attract bidders for two consecutive days, although at more than double the normal rate.

The move comes amid uncertainty over the timely arrival of LNG shipments from Qatar, as shipping in the Gulf remains severely disrupted after Tehran threatened to "set fire" to vessels in the Strait of Hormuz, while the US-Israeli war with Iran continues for a tenth day.

Located between Oman and Iran, and connecting the Persian Gulf with the Gulf of Oman and the Arabian Sea, the strait is one of the world's most important oil chokepoints.

Bangladesh meets nearly 30 percent of its gas demand, equivalent to 2,650 mmcfd, through imported LNG as domestic output continues to fall short.

The country also spends roughly $1 billion per year to import more than 60 lakh tonnes of petroleum and relies heavily on the Hormuz route. It sources most petroleum from the Middle East, and more than half of LNG imports in 2025 passed through this chokepoint.