Bangladesh to deepen LNG reliance

The Asian country is looking for foreign investors to build a second regasification terminal

Bangladesh paid record prices for LNG cargoes last month, soon after making a renewed commitment to gas imports. The South Asian country is far from alone. Asian spot LNG prices spiked to more than $56/mn Btu in early October, pressuring importers across the region. But the price shock was felt particularly keenly in Dhaka, where proponents of LNG felt they had only just clinched the argument. The government spent the summer courting foreign investors it hopes will build its first permanent LNG terminal, shortlisting eight groups in September. Japan’s Tokyo Gas carried out the feasibility study for the 7.5mn t/yr onshore facility—which will double Bangladesh’s import capacity—and is advising