The government will export 1,20,000 barrels of natural gas condensate (NGC) to the Singapore-based company, M/S Trafigure Ltd, at a price discount of $1.95 per barrel, official sources said.
According to a source of Energy Division, the government has decided to resume export of Natural Gas Condensate after the state-run Eastern Refinery Company Limited was unable to stock the condensate because of lack of its storage capacity.
M/S Trafigure Ltd has been selected as the highest bidder of an international tender floated by the Bangladesh Petroleum Corporation(BPC) last month.
The firm will purchase 1,20,000 barrels of NGC with per barrel price discount of $1.95.
The government will earn Tk44.67 crore from the export.
According to the BPC board meeting, at present, Eastern Refinery Company Limited has a total storage capacity of 1,49,150 barrels.
Earlier, BPC exported the condensate only for three years from 2009 to 2011.
The petroleum corporation usually collects the condensate as a byproduct from different gas-fields owned and operated by different subsidiary companies of the state-run Petrobangla and international oil companies.
