What is the scope and pricing structure of Bangladesh's new long-term LNG deal with the U.S. via Gunvor?

Bangladesh has approved a state-to-state agreement with U.S.-based Gunvor to purchase 117 LNG cargoes between 2026 and 2038. Under this deal, Bangladesh will buy five cargoes in 2026, six in 2027, and six in 2028; three of the 2028 cargoes — along with all 2026 and 2027 cargoes — are priced at the Japan Korea Marker (JKM) index plus 8.75 cents per million British thermal units (mmBtu). The remaining three cargoes in 2028 and 10 cargoes annually from 2029 to 2038 will be priced at 121% of the U.S. Henry Hub benchmark plus $5.20 per mmBtu.

Why is Bangladesh seeking alternative LNG suppliers like the U.S., and what immediate supply risks prompted this shift?

Bangladesh is turning to the U.S. for long-term LNG supplies amid global disruptions caused by the U.S.-Israeli conflict with Iran, which has affected LNG production and shipping routes; specifically, QatarEnergy has declared force majeure on some long-term contracts, increasing risks to Bangladesh’s LNG supply security and prompting efforts to diversify sources and reduce exposure to market disruptions.

Bangladesh Turns to US for LNG Supplies Amid Global Disruptions

Aug 12, 2026

Bangladesh approved purchasing 117 LNG cargoes from US-based Gunvor through 2038 to secure energy supplies amid global market disruptions. The deal includes specific pricing structures based on JKM and Henry Hub benchmarks alongside additional direct procurements.

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Bangladesh Turns to US for LNG Supplies Amid Global Disruptions

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