Dhaka, Feb. 6 -- Bangladesh has purchased liquefied natural gas (LNG) from the spot market at a price lower than that of its long-term suppliers, capitalising on a recent supply glut of the fuel despite the ongoing winter in Europe and other energy-hungry Western countries, according to market insiders.

The country purchased its latest spot LNG cargo at $9.93 per million British thermal unit (MMBTu) from Vitol Asia Pte Ltd for delivery on March 8-9 to the US-owned Excelerate Energy's floating storage and regasification unit (FSRU) at Moheshkhali Island in the Bay of Bengal.

The Cabinet Committee on Government Purchase approved the spot LNG import deal on January 31, 2023, when state-run Petrobangla's buying price from long-term supplier...