Bangladesh to develop two new LNG import terminals by 2030

Bangladesh aims to establish two new liquefied natural gas (LNG) import terminals by 2030, according to state minister for power, energy and mineral resources Anindya Islam Amit. The country currently operates two floating LNG import terminals, each capable of regasifying up to 1,100 million cubic feet of gas daily. The first new terminal, located on Moheshkhali Island in Cox's Bazar district, will have a capacity of around 600 million cubic feet of gas daily, while the land-based terminal will have a regasification capacity of approximately 1,000 million cubic feet of gas daily.

Bangladesh anticipates a growing demand for LNG over the coming decades, with the need for additional LNG projected to increase significantly from 3-4 million metric tons per annum between 2026 and 2030 to 17-18 mtpa between 2031 and 2040. In 2022, Bangladesh imported nearly 7 million tonnes of LNG, with the majority of supplies coming from Qatar.

The country has been relying on spot imports since QatarEnergy declared force majeure on its shipments following damage to its facilities due to the US-Iran war. In July, QatarEnergy reduced scheduled LNG deliveries to Bangladesh by half, and in March, Bangladesh reportedly increased its coal power generation and coal imports as spot LNG prices doubled to three-year highs.

The state-owned energy company is exploring alternative LNG sourcing options, including more spot-market purchases and government-to-government deals with other suppliers.