December 18, 2025
DHAKA – Bangladesh is preparing to ramp up its liquefied natural gas (LNG) imports as global spot prices soften and local gas output continues to fall behind the domestic demand.
For the current fiscal year 2025-26, the government initially planned to import 115 cargoes of LNG through a mix of long-term contracts and spot purchases. That is already higher than the 94 cargoes bought in the previous year.
Now, the authorities are considering importing even more as international prices have remained subdued amid weak demand from major buyers such as China and Japan.
“LNG prices reduced significantly. So, I am going to suggest the energy ministry to import more,” said Finance Adviser Salehuddin Ahmed.
“I hope LNG imports this year will be higher compared to the initial plan,” he told The Daily Star.
Ahmed said money is not a problem here, though physical capacity limits how much LNG the country can bring in at short notice.
Of the planned 115 LNG cargoes in FY26, each consignment would carry 33.60 lakh mmBtu of gas, according to Rupantarita Prakritik Gas Company Limited, the state-owned firm responsible for LNG conversion and supply.
On Monday, the government approved the purchase of one spot cargo at $9.99 per mmBtu.
In 2022, after the Russia-Ukraine war broke out, LNG averaged $18.43 per mmBtu. That dropped to $12.84 in 2024. The spot rate stood at $13.52 per mmBtu in June this year before easing further to $11.02 in November.
World Bank commodity price data also point to a gradual downward trend, while international energy analysts say LNG prices may decline further as supply remains ample.
According to international media reports, North Asian spot LNG prices have hovered around $9 per mmBtu, with the region’s largest buyers staying largely out of the market for the coming months.
Chinese importers are holding strong inventories and are not seeking additional cargoes. Demand in Japan also remains weak, while South Korea has shown only limited spot buying interest despite being the world’s third-largest LNG buyer.
Bangladesh sources LNG through two channels, long-term supply agreements and the spot market.
Amid declining domestic gas extraction, the government began importing LNG in 2018 to meet the domestic fuel demand.
Gas demand is projected to reach 6,240 million cubic feet per day (mmcfd) by 2030, according to the Integrated Energy and Power Master Plan 2023, which maps out the energy sector through to 2050.
By the end of 2023, domestic gas production stood at about 2.08 billion cubic feet per day from all fields, including those operated by international oil companies. That is lower than the 2012 average of around 2.20 billion cubic feet per day, according to state-run Petrobangla.
Under existing long-term agreements, the government is set to buy 40 LNG cargoes from Qatar and 16 from Oman in FY26. In 2026, supplies are due to rise further, with an additional 12 cargoes from Qatar and four from Oman.
A separate deal with US-based Excelerate Energy will see 14 cargoes supplied each year, beginning from January 2026. Besides, the government will purchase 33 cargoes from the spot market during the current fiscal year.
In the first five months of FY26 up to November, Bangladesh bought a total of 50 LNG cargoes. Of these, 29 arrived under long-term contracts, with the rest sourced from the spot market.
Preferring anonymity, an official of Rupantarita Prakritik Gas Company said LNG under long-term contracts is currently being bought at around $9.5 per mmBtu.
Despite the price drop, imports cannot be expanded aggressively, according to the official.
Because Bangladesh has only two floating storage and regasification units, operated by Excelerate Energy and Summit LNG Terminal Company. Together, the two terminals have a regasification capacity of 1,100 million cubic feet per day.
At present, two land-based LNG terminals are being established in Cox’s Bazar, with a combined daily regasification capacity of 2,000 million cubic feet. However, both projects are still at an early stage.