LNG shortages: Global traders propose short-, mid-term supply deals

AI Summary

Due to force majeure declarations by long-term suppliers amid US-Iran tensions and Strait of Hormuz disruptions, global LNG traders propose short- to medium-term supply contracts to Bangladesh at reduced costs. This aims to mitigate ongoing LNG shortages impacting Bangladesh's energy supply.

A number of global liquefied natural gas (LNG) suppliers have queued up to supply LNG to Bangladesh under short- to medium-term contracts at reduced costs after the country’s contractual long-term suppliers declared force majeure on their deliveries in March. The non-delivery, caused by the US-Iran war and disruptions to the Strait of Hormuz, has forced ...