Gunvor's First LNG Cargo from the US Arrives in Bangladesh; Unloading Begins

The first Liquefied Natural Gas (LNG) cargo under a long-term agreement with the US-based company Gunvor has arrived in Bangladesh. Unloading operations commenced after the vessel docked at Summit's floating LNG terminal at 4:12 PM on Thursday, September 17.

A total of 142,400 cubic meters of LNG is set to be unloaded from the vessel, named *LNG Geneva*. Bangladesh established this long-term supply arrangement with the US company as part of an initiative to diversify energy sources amidst ongoing instability in the Middle East.

Under the agreement, there is a plan to procure a total of 117 LNG cargoes from Gunvor between 2026 and 2038. The company is scheduled to supply five cargoes within this year alone. Government procurement documents also detail this long-term plan for the supply of 117 cargoes.

Gunvor's first shipment arrived at a time when prices in the global LNG market have surged significantly due to supply shortages. Driven by the conflict in the Middle East, LNG prices in the Asian spot market have climbed to nearly $30 per MMBtu—several times higher than pre-war levels.

According to Petrobangla sources, a total of nine LNG cargoes are scheduled to arrive in the country in September. In addition to Gunvor, shipments are also arriving from Aramco, BP, POSCO, and TotalEnergies. Another cargo from Gunvor is expected on September 28.

The consecutive arrival of LNG cargoes has brought some relief to the country's gas supply situation. As of 8 PM on September 17, the total gas supply to the national grid stood at approximately 2,605 million cubic feet per day. Of this, 1,612 million cubic feet came from domestic gas fields, while approximately 993 million cubic feet was derived from imported LNG.

Data from the previous day also indicated that gas supplies had returned to levels close to those seen before the crisis. According to Petrobangla, the total gas supply on September 16 stood at approximately 2,610 million cubic feet, with about 990 million cubic feet fed into the national grid from two floating LNG terminals.

Following increased risks associated with supplies reliant on the Middle East, Bangladesh is now seeking to expand its LNG imports from various sources, including the United States. The government has also initiated measures to diversify energy sources by increasing the number of suppliers.

The arrival of Gunvor's first long-term cargo is viewed as a significant step in this strategy. If regular shipments continue, imported LNG will play an increasingly vital role in addressing the ongoing gas shortages across the industrial, power generation, and residential sectors.