LNG from spot market for summer demand: PM

Considering the growing demand during the ongoing irrigation season, upcoming holy month of Ramadan and summer, the process of importing LNG from spot market has already been started, said Prime Minister Sheikh Hasina.

The Leader of the House said this while responding to a tabled question from Jatiya Party lawmaker Fakhrul Imam at the parliament on Wednesday.

She said that in 2008, the daily gas production capacity was 1,744 million cubic feet while in 2018, the production capacity increased to 2,750 million cubic feet. 

"And currently the daily gas production capacity is 2,300 million cubic feet," she added.

Bangladesh has recently resumed the purchase of liquified natural gas from the international spot market after a pause of seven months as the government looks to ensure adequate supply for energy-starved industries to keep the economy running at a good speed.

Sheikh Hasina said that the increased demand must be met by importing LNG at a high price from the spot market to meet the increased demand of gas for power generation during the current agricultural irrigation season, Ramadan and summer as well as to keep the production uninterrupted in the industrial sector and to continue the production of captive power produced under the own management of various factories for export.

That is why the government has decided to increase the price of gas used only in electricity, industry, captive power and commercial sectors, leaving other consumer groups unchanged, she added.

She said: "The process of importing LNG from the spot market has already been adopted to meet the demand of gas in the said sectors."