Petrobangla has settled all outstanding external LNG payments totalling $3.739 billion two months ahead of the June 30 deadline, the state-owned corporation announced.
The dues, including $737.46 million in arrears left by the ousted Awami League government, were cleared through coordinated efforts led by the interim government’s Ministry of Power, Energy, and Mineral Resources.
The payments covered obligations to International Oil Companies (IOCs), long-term LNG agreements, spot market suppliers, two Floating Storage and Regasification Units (FSRUs), and the International Islamic Trade Finance Corporation (ITFC).
Timely bill payments by gas distribution companies, power generators, and consumers enabled the early clearance.
Petrobangla anticipates that the early settlement will boost Bangladesh’s economy, enhance the energy sector’s credit rating, and strengthen trust among spot market LNG suppliers. The move also saves $54.57 million in potential late payment interest, according to the statement.
Source: BSS