FROM PAGE B1

Average prices of LNG cargoes were $10-11 per mmbtu during normal market conditions, said the official on condition of anonymity.

The RPGCL invited price proposals in a notice published on its website on April 1, seeking delivery between May 2 and May 9.

Bangladesh currently meets nearly 30 percent of its gas demand through imported LNG, as domestic production falls short of the daily requirement of around 2,650 million cubic feet.

The ongoing war in Iran has disrupted shipments of energy and fertiliser through the Strait of Hormuz, which handles about 25 to 30 percent of global oil and 20 percent of LNG trade.

This has pushed up global energy prices and intensified competition for supplies among key importing countries.