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.