Govt defers proposal to buy LNG from JERAGM pending legal vetting

The government has deferred a proposal seeking approval to purchase liquefied natural gas (LNG) directly from Japan’s JERA Global Markets Pte Ltd (JERAGM), pending legal vetting by the Legislative and Parliamentary Affairs Division.

The decision was taken at the 35th meeting of the Cabinet Committee on Economic Affairs held on Saturday, where a single proposal from the Energy and Mineral Resources Division was placed for discussion.

Finance Minister Amir Khosru Mahmud Chowdhury presided over the meeting.

The proposal sought approval in principle to procure LNG from JERAGM through the direct procurement method under Section 68 of the Public Procurement Act, 2006, and Rule 99(2) of the Public Procurement Rules, 2025.

It also sought approval to sign the finalised formats of the short-term LNG Sale and Purchase Agreement (SPA) and the term sheet between Bangladesh Oil, Gas and Mineral Corporation (Petrobangla) and JERAGM.

The committee decided that the proposal will be placed before it again after obtaining vetting from the Legislative and Parliamentary Affairs Division.

No final approval for the proposed LNG purchase or signing of the agreements was granted at the meeting.