The advisory council on government purchases at a meeting on Tuesday approved an Energy and Mineral Resources Division鈥檚 proposal to purchase one cargo of liquefied natural gas from the spot market at a price higher than the deals approved five days ago.
The buying price of the LNG cargo set on Tuesday is at least Tk 19 crore higher than the buying price of each of the two LNG cargoes approved on April 17.
Presided over by finance adviser Salehuddin Ahmed virtually from Washington, the committee awarded the supply deal to M/S Vitol Asia under a limited tendering from the spot market at Tk 598.30 crore.
Five days ago, the same committee approved a cargo supply deal to M/S Total Energies Gas and Power Limited of the UK at Tk 567.85 crore and M/S Gunvor Singapore Pte Limited of Singapore at Tk 569.29 crore.
Reports from international wire services in the current week said that Asian spot LNG prices remained at a near one-year low due to overall weak demand.
The average LNG price for June delivery to north-east Asia was at $11.50 per million British thermal units (mmBtu), estimated industry sources, down from $11.80/mmBtu past week but still at its lowest level since mid-May.
The advisory council also approved another proposal from the same division, increasing contracting price of operation and maintenance of single point mooring with double pipeline by $8.5 million to $28.79 from original $20.21 million.
ILF Consulting Engineers of Abu Dhabi has been giving the service to the single point mooring with double pipeline that has been constructed in Cox鈥檚 Bazar to introduce unloading of imported fuel oils into refinery from ship through pipelines.
The advisory council also approved seven other proposals, including the purchase of 2.20 crore litres of palm oil to be supplied by Shabnam Vegetable Oil Industries Limited at Tk聽356.81 crore and 30,000 tonnes of urea from Karnaphuli Fertiliser Company with a tonne at $390.35.
Earlier, the finance adviser presided over a meeting of the advisory council on government affairs and approved a proposal from the Energy and Mineral Resources Division.
The approval will enable Rupantarita Prakritik Gas Company Limited under the division to establish the proposed land-based LNG terminal at Matarbari in Cox鈥檚 Bazar.聽聽
