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Bangladesh Thailand issues spot buy tenders as prices are favorable

Bangladesh and Thailand are back in the spot market once again with buy tenders for March and April delivery windows.  The state-owned Rupantarita Prakritik Gas Company Ltd (RPGCL) a subsidiary of Petrobangla will close a buy tender on February 12 for a cargo to be delivered during March 11-12 window.

With spot LNG prices hovering around $17, buyers from India, Thailand and Bangladesh have entered the spot market with cargoes for supply between February to April. RPGCL had earlier closed a buy tender on January 29 for February 21-22 delivery cargo. Apparently, the buy tender was awarded to a portfolio supplier at around $18. Bangladesh Prime Minister announced on Wednesday that the country will buy a number of spot cargoes to bridge the demand-supply gap as prices are favourable.

In another buy tender, Thailand’s PTT has closed a buy tender today on Feb 9 for cargoes to be delivered during March and April delivery windows. PTT was seeking four cargoes with four different windows- March 26-27, 27-28 and April 11-12 and 15-16.

Apart from its latest buy tender, earlier in January PTT had closed a buy tender for 12 cargoes to be delivered between February and April 2023.