Bangladesh plans to double its liquefied natural gas (LNG) imports from the volatile spot market in 2025, sourcing 59 cargoes compared to 30 in 2024, amid declining domestic gas production and rising demand from power plants, industries, and fertilizer factories.

State-run Petrobangla aims to import 115 LNG cargoes this year, a 33.72% increase from 86 cargoes in 2024. Of these, 56 cargoes will be sourced from long-term suppliers Qatargas and OQ Trading International, while the rest will come from the spot market.

Spot market reliance surged in late 2024 following the resumed operations of Summit LNG Terminal after a seven-month shutdown caused by maintenance and cyclone damage. US-based Excelerate Energy’s FSRU expanded its re-gasification capacity by 20% in early 2024.

Rising global LNG prices pose challenges, with each spot cargo costing $45-50 million. In contrast, imports from long-term suppliers remain at minimum contractual volumes, far below pre-Russia-Ukraine war levels.

Bangladesh’s natural gas demand in 2025 is estimated at 1,980 mmcfd for power plants, 1,000 mmcfd for industries, and 350 mmcfd for fertiliser factories, highlighting its growing energy needs.