QatarEnergy will deliver 26 of the 40 liquefied natural gas (LNG) cargoes it is contracted to supply to Bangladesh in 2027, or 65% of its annual commitment. With long-term supply still uncertain, the government has decided to finalise the LNG import schedule only up to March 2027 for now.
Officials said the cabinet committee on government purchase told Petrobangla to prepare the annual delivery programme only up to March 2027, rather than for the whole year.
Waiting on the Strait of Hormuz
Policymakers expect the geopolitical situation around the Strait of Hormuz may improve after the US midterm elections. If normal traffic resumes through the strait, more LNG carriers could move and suppliers could restart deliveries under their long-term contracts. Petrobangla officials said policymakers hope a possible understanding between the United States and Iran would end the deadlock and make it easier for Bangladesh to secure extra cargoes under existing deals.
The uncertainty began when the Iran–US war broke out on 28 February, disrupting LNG production and shipping through the Strait of Hormuz. Several suppliers declared force majeure, making it hard to secure LNG for Bangladesh under long-term contracts.
Bangladesh had initially planned to import about 115 LNG cargoes in 2027, at least 103 of them under long- and short-term contracts. Petrobangla and Energy Division officials said only 71 of the 128 contracted cargoes have been confirmed so far.
Who is supplying what in 2027
- QatarEnergy: 26 of 40 contracted cargoes (65%), after it declared force majeure when its own production and exports were disrupted.
- QatarEnergy Trading LLC: 18 of 24 contracted cargoes expected (75%). The two Qatari companies together will deliver 44 cargoes, keeping Qatar the country’s largest LNG supplier.
- OQ Trading (Oman): contracted to supply 32 cargoes but has not confirmed a single one. It has offered 16 cargoes, half its commitment, if pricing moves from the current Brent-linked formula to the Japan-Korea Marker (JKM) minus $0.04 per MMBtu. Petrobangla rejected the offer and asked it to honour the existing contract. OQT has suspended deliveries under force majeure since the supply crisis began in March.
- Gunvor USA LLC: 6 cargoes in 2027 under the recently signed 13-year deal for 117 cargoes between 2026 and 2038, priced at JKM plus $0.0875 per MMBtu. Gunvor will deliver 14 JKM-linked cargoes in 2026–28 (5, 6 and 3 a year); the other 103 cargoes, from 2028 to 2038, will be priced at 121% of US Henry Hub plus $5.20.
- TotalEnergies: 12 cargoes expected in 2027 under a recent short-term deal for 18 cargoes between October 2026 and June 2027, at JKM plus $0.06 per MMBtu.
- Excelerate Gas (US): 9 of its 14 scheduled 2027 cargoes confirmed.
After regasification, each LNG cargo yields roughly 2,900 to 3,000 million cubic feet of natural gas.
Rising import costs
Disrupted long-term supply has pushed Bangladesh further into the volatile spot market, raising import costs. The government spent Tk 10,300 crore on LNG subsidies in the first three months of FY2026-27 alone. Limiting the schedule to March is meant to let Petrobangla review its supply commitments and purchase needs as the situation in the Middle East changes.
Imported LNG reaches the grid through the floating terminals off Moheshkhali; Summit’s terminal there recently restarted after maintenance.
Translated and rewritten from reporting by The Business Standard Bangla, 8 November 2026.
