LNG suppliers suspend long-term contracts, pushing Bangladesh to volatile spot market in General Energy News 12/03/2026 Bangladesh’s import of liquefied natural gas (LNG) from long-term contracts has become highly uncertain after all three suppliers invoked force majeure, a legal tool that allows them to suspend or delay contractual obligations in events beyond their control, amid the ongoing US-Israel war on Iran. According to Petrobangla officials, the latest force majeure notice came from Oman-based OQ Trading Limited on 5 March, followed by the US-based Excelerate Energy the next day. Earlier on 2 March, Bangladesh’s largest LNG supplier QatarEnergy invoked the same. Confirming the development, Petrobangla Chairman Md Arfanul Hoque on Saturday told TBS, “We are now looking for alternatives from the spot market to fill the window left vacant by the three suppliers.” With the three suppliers invoking force majeure, Bangladesh is set to lose all six LNG cargoes scheduled under long-term contracts for April, along with two additional deliveries from short-term arrangements. Officials said the development could potentially block the supply of at least eight LNG cargoes from both long- and short-term contracts, leaving Bangladesh heavily dependent on the volatile spot market. According to the import plan, three additional cargoes were supposed to be procured from the spot market in April too which means Bangladesh has a plan to procure 11 LNG cargoes in April. All three suppliers interlinked Petrobangla officials said once QatarEnergy – which is scheduled to supply around 40 LNG cargoes to Bangladesh in 2026 – invoked force majeure, similar moves by the other suppliers became almost inevitable as QatarEnergy accounts for around 20% of the world’s seaborne LNG. Officials added that supply arrangements from the other suppliers, OQ Trading (OQT) and Excelerate, are closely linked to deliveries tied to QatarEnergy under existing agreements. While there is a provision to source LNG from alternative suppliers outside QatarEnergy if OQT and Excelerate can manage, the enforcement of force majeure effectively blocks this option. Petrobangla said the force majeure imposed by OQ Trading will remain in effect until 8 April. Petrobangla Chairman Arfanul said, “With the imposition of force majeure by OQ, Petrobangla will lose two cargoes scheduled for delivery on 3 and 8 April.” What was the April import plan According to Petrobangla’s earlier LNG import plan, 11 cargoes were scheduled to arrive in April. Of these, six were to come under long-term contracts, two under short-term, and three from the spot market. Of the six long-term cargoes, three were to be supplied by QatarEnergy, one by QatarEnergy Trading, one by OQT, and one by Excelerate. Of these six cargoes, five were expected to pass through the Strait of Hormuz, while one was to come from Angola. Energy officials said that out of the six deliveries planned for April, four cargoes have already been confirmed cancelled following the invocation of force majeure by the suppliers. Talking to TBS yesterday, Energy Secretary Md Saiful Islam said the government is now stepping up efforts to import LNG from the spot market to maintain supply. “Bangladesh is also considering purchasing LNG through G2G arrangements under direct procurement.” Short-term supply also under threat According to Petrobangla’s plan for April, Bangladesh intended to import two cargoes under short-term contracts – one from OQ Tra