21 news articles tagged with "LNG"
Bangladesh FSRU resumes operation after 2-week closure. 115 mmcfd gas supply restored. Excelerate Energy facility on Moheshkhali island. One boiler repaired, second pending. Relief for industries at 30-50% capacity.
Bangladesh govt approved direct purchase of 8 LNG cargoes from 4 companies: Blackcube (UK), Global Fuel (Australia), Plentitude (Malaysia), Vitol (Switzerland). Also 5,000 tonnes LPG from Speed Group. DPM chosen for quick supply.
Houthi attacks on Saudi Aramco facilities in Jizan and Yanbu have slowed Red Sea shipping, with only 11 vessels passing through Bab el-Mandeb on Sunday. Crude cargo prices jumped to two-month highs. Strait of Hormuz traffic also remained low despite US-Iran strike pause.
Oil prices tumbled Monday as a US-Iran strike pause boosted hopes for Hormuz reopening. Brent crude dropped below $90/barrel after shedding 7%. Bangladesh stands to benefit from reduced energy import costs and stabilising Middle East shipping.
Bangladesh faces gas supply uncertainty as the damaged Floating Storage and Regasification Unit (FSRU) may take at least a week for even partial repair. The government hopes to resume partial operations within a week.
Bangladesh proposed importing gas from Myanmar via pipeline. Myanmar has 22 tcf reserves but produces 1.5 bcf/day (down from 2 bcf in 2016). Arakan Army controls border. Rohingya crisis complicates diplomacy. Pipeline proposal from 1997 revived.
Petrobangla has denied plans to increase gas prices, issuing a public notice urging people not to be misled by speculative reports. The clarification comes amid the ongoing gas crisis and rising LNG spot prices.
Bangladesh's energy sector has become a macroeconomic threat with import bills surging from $4.3B to $11.2B and subsidies absorbing 22% of tax revenue, according to PRI's Sadiq Ahmed. He proposes six bold reforms including deregulation, corporatisation, and depoliticised pricing.
Excelerate Energy has brought in foreign experts to repair the damaged FSRU at Moheshkhali. The shutdown has cut 450 mmcfd of gas supply to Bangladesh's national grid, disrupting industrial production, CNG stations, and household cooking. Full recovery could take a couple of weeks.