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An LNG carrier at sea
QatarEnergy is set to deliver 26 out of 40 contracted liquefied natural gas (LNG) cargoes to Bangladesh in 2027, meeting approximately 65 percent of its annual contractual commitment. Compounded by delivery uncertainties from Oman and other long-term suppliers due to ongoing Middle Eastern tensions, the government has decided to finalize LNG import schedules strictly through March 2027 rather than committing to a full-year procurement calendar.
Officials confirmed that the Cabinet Committee on Government Purchase (CCGP) instructed Petrobangla to prepare import timelines only up to the first quarter of next year, leaving room to adjust plans based on geopolitical developments and supply chain stabilization. Policymakers anticipate that regional maritime friction surrounding the Strait of Hormuz may ease following the US midterm elections, which could restore normal navigation for LNG carriers and allow long-term contractors to resume scheduled dispatches. Petrobangla officials noted that a potential diplomatic thaw between Washington and Tehran could alleviate the ongoing fuel crunch and reopen avenues for receiving supplementary contracted volumes.
Global LNG supply networks have faced severe volatility since the outbreak of armed conflict between Iran and the United States on February 28, which severely disrupted upstream production and maritime transit through the Strait of Hormuz. Following declarations of force majeure by multiple suppliers, Bangladesh’s long-term import arrangements were heavily destabilized. Prior to the conflict, Bangladesh projected importing around 115 LNG cargoes in 2027, aiming to secure at least 103 via long- and short-term contracts. However, officials from Petrobangla and the Energy and Mineral Resources Division confirmed that only 71 out of 128 contracted cargoes have been confirmed to date.
QatarEnergy remains Bangladesh’s primary LNG supplier for 2027, expected to deliver 26 of its 40 contracted shipments. Its trading affiliate, QatarEnergy Trading LLC, is slated to fulfill 18 out of 24 contracted cargoes (75 percent), bringing total anticipated deliveries from Qatari entities to 44 cargoes. Nevertheless, production and export disruptions prompted QatarEnergy to invoke force majeure, scaling back deliveries from full capacity. Concurrently, Oman’s state-owned OQ Trading (OQT) has confirmed none of its 32 scheduled cargoes for 2027, instead offering to supply only 16 shipments while demanding a pricing shift from Brent crude parity to the Japan Korea Marker (JKM) index minus $0.04 per MMBtu. Petrobangla rejected the proposal, ordering OQT to adhere strictly to existing contract terms. OQT has halted deliveries under force majeure since the supply crisis erupted in March.
Beyond Gulf suppliers, Bangladesh plans to procure six cargoes in 2027 from Switzerland-based Gunvor USA LLC under a recently executed 13-year agreement covering 117 cargoes through 2038. Under the initial phase running from 2026 to 2028, Gunvor will deliver 14 JKM-indexed cargoes—five in 2026, six in 2027 (priced at JKM plus $0.0875 per MMBtu), and three in 2028—with the remaining 103 shipments tied to Henry Hub pricing (121% of Henry Hub plus $5.20). France’s TotalEnergies is expected to supply 12 cargoes in 2027 under a short-term contract for 18 cargoes between October 2026 and June 2027, priced at JKM plus $0.06 per MMBtu. US-based Excelerate Gas has confirmed nine of its 14 contracted cargoes for 2027. Each cargo yields approximately 2,900 to 3,000 million cubic feet of regasified natural gas.
Disruptions in long-term contracts have forced Bangladesh to depend heavily on expensive purchases from the international spot market, placing acute pressure on state coffers. Energy sector data shows that government subsidy expenditure on LNG imports surged to Tk 10,300 crore in the first three months of fiscal year 2026–27 alone. By restricting formal procurement schedules to March 2027, Petrobangla aims to reassess supplier capabilities and balance fiscal requirements against evolving global energy market dynamics.
https://thedailyexpress.news/news/national/1f1db321-0ac4-6890-be0d-18014b971199