S'abonner

JERA wins LNG tender in Bangladesh

JERA won the tender for the delivery of LNG to Bangladesh with the lowest price offered, confirming its leading position in the energy sector. Competing suppliers including TotalEnergies submitted higher offers for the same cargo.

Share:

Japanese energy company JERA offered the lowest price for a liquefied natural gas (LNG) cargo in the latest Bangladesh spot tender. The offer was made at $16.50/MMBtu for delivery to the Moheshkhali floating storage and regasification unit on March 11-12. According to an official from Petrobangla, the national oil company that handles LNG trading for Bangladesh, JERA will supply about 3.36 million MMBtu.

 

Other suppliers submit higher bids

Six other LNG suppliers, including Vitol Asia, Gunvor Singapore, Excelerate Energy and TotalEnergies, also submitted bids in the tender launched a week ago. The highest bid was approximately $21/MMBtu.

 

The final decision is awaited

Bangladesh’s cabinet committee on government procurement is expected to approve the award of the LNG supply contract to JERA at a meeting scheduled later this week, the official added. State-owned Rupantarita Prakritik Gas Company Ltd, a wholly-owned subsidiary of Petrobangla, will issue another tender by next week to import a similar-sized spot cargo of LNG in late March.

 

LNG market expected to continue to decline

Bangladesh expects to receive its first 2023 spot LNG cargo on Feb. 21-22 from TotalEnergies, which was awarded at $19.78/MMBtu in a tender. Cash prices are trending lower due to healthy inventories and tepid winter demand in most regions. According to S&P Global data, JKM for March delivery was valued at $15.40/MMBtu by Platts on February 13, the lowest since August 20, 2021.

 

JERA offered a record price for an LNG cargo in the latest Bangladesh spot tender. The Japanese energy company will supply about 3.36 million MMBtu for delivery to the Moheshkhali floating storage and regasification unit on March 11-12. The final decision on the award of the LNG supply contract to JERA is expected this week. Bangladesh is expected to continue importing LNG from the spot market in the coming months, with spot prices trending downward due to healthy inventories and tepid winter demand in most regions.

  • Populaires ​
Donald Trump significantly increases US tax credits for carbon capture
Argentina restricts industrial gas amid historic cold snap
Czech Republic hit by massive power outage disrupting the economy
France anticipates significant slowdown in emission reductions starting in 2025
EDF postpones Calvados wind farm to 2027 due to faulty drilling tool
EU imposes secrecy on national strategies for Russian gas phase-out
European Union member states have requested to keep their national strategies for phasing out Russian gas by 2027 confidential, citing security concerns and market disruption risks, according to a document revealed by Reuters.
TotalEnergies joins PJM Interconnection, the largest power grid in the United States
TotalEnergies becomes a member of PJM Interconnection, expanding its trading capabilities in North America's largest wholesale electricity market. The decision strengthens the company's presence in the United States.
Turkey plans to start gas supplies to Syria soon, says energy minister
Turkey has connected its gas grid to Syria’s and plans to begin supplying gas for power generation in the coming weeks, according to Turkish Energy Minister Alparslan Bayraktar.
China Reaches Record Energy Demand Without Boosting LNG Purchases
Despite record electricity demand, China sees no significant increase in LNG purchases due to high prices and available alternative supplies.
US natural gas production to hit historic high in 2025
US natural gas production and consumption are expected to reach record highs in 2025, before slightly declining the following year, according to the latest forecasts from the US Energy Information Administration.
Naftogaz Launches New Gas Well Despite Declining Production
Naftogaz announces the launch of a natural gas well with a daily output of 383,000 cubic meters, amid a sharp decline in Ukrainian production following several military strikes on its strategic facilities.
Sonatrach and ENI Seal $1.35 Billion Contract in Algeria
Sonatrach and ENI have signed a $1.35 billion production-sharing agreement aiming to extract 415 million barrels of hydrocarbons in Algeria's Berkine basin, strengthening energy ties between Algiers and Rome.
Maple Creek Energy launches strategic RFP for US gas project
Maple Creek Energy is soliciting proposals for its advanced 1,300 MW gas project in MISO Zone 6, targeting long-term contracts and strategic co-location partnerships with accelerated connection to the regional power grid.
VMOS secures USD 2 billion to finance its flagship Vaca Muerta project
VMOS signs a USD 2 billion loan to finance the construction of the Vaca Muerta South pipeline, aiming to boost Argentina's energy production while reducing costly natural gas imports.
Argentina forecasts 180 Mmcd to become regional supplier and major LNG exporter
According to a Wood Mackenzie report, Argentina could achieve daily gas production of 180 million cubic metres per day by 2040, aiming to become a key regional supplier and a significant exporter of liquefied natural gas.
Côte d’Ivoire and Eni strengthen their energy partnership with the Baleine project
Côte d'Ivoire and the Italian group Eni assess progress on the Baleine energy project, whose third phase plans a daily production of 150,000 barrels of oil and 200 million cubic feet of gas for the Ivorian domestic market.
Heatwave in China: Electricity Demand Surges, LNG Imports Slow
The extreme heatwave in China has led to a dramatic rise in electricity consumption, while Asia records a significant drop in liquefied natural gas imports amid a tight global energy context.
E.ON expands energy automation with a cogeneration plant in Neuss
E.ON, together with MM Neuss, commissions Europe’s first fully automated cogeneration plant, capable of achieving a 91 % fuel-use rate and cutting CO₂ emissions by 22 000 t a year.
Strong Rise in Solar Power Reduces Summer Demand for Natural Gas
Solar power generation increased sharply in the United States in June, significantly reducing natural gas consumption in the power sector, despite relatively stable overall electricity demand.
Exxon and QatarEnergy ask US for permission to re-export LNG from October
Golden Pass LNG, jointly owned by Exxon Mobil and QatarEnergy, has asked US authorities for permission to re-export liquefied natural gas starting October 1, anticipating the imminent launch of its operations in Texas.
Delfin Midstream secures strategic agreement with Siemens Energy and Samsung
Delfin Midstream reserves gas turbine manufacturing capacity with Siemens Energy and initiates an early works programme with Samsung Heavy Industries, ahead of its anticipated final investment decision in the autumn.
DNO secures USD 500 million financing linked to Norwegian gas
Norwegian group DNO ASA signs gas offtake contract with ENGIE and secures USD 500 million financing from a major US bank to guarantee future revenues from its Norwegian gas production.
Golar LNG raises $575mn through bond issuance and repurchases shares
Golar LNG Limited has completed a private placement of $575mn in convertible bonds due in 2030, using part of the proceeds to repurchase and cancel 2.5 million of its own common shares, thus reducing its share capital.
Shell ships first LNG cargo from its LNG Canada facility
Shell Canada Energy announces shipment of the first liquefied natural gas cargo from its LNG Canada complex, located in Kitimat, British Columbia, primarily targeting fast-growing Asian economic and energy markets.
Australia considers east coast gas reservation as market pressures intensify
The Australian government is considering the establishment of an east coast gas reservation as part of a sweeping review of market rules to ensure supply, with risks of shortages signalled by 2028.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING