Bangladesh was forced to pay the most for liquefied natural gas than it has in about four years, threatening to drive up energy costs as the government scrambles to contain rolling blackouts. A cabinet committee approved the purchase of a cargo for early-October delivery from BP Plc at $28.03 per million British thermal units, according to a notice Bloomberg Terminal on Wednesday. That single shipment is worth almost $100 million, and would be the most expensive since 2022 in the wake of the Russian invasion of Ukraine, according to traders.

The country faces ongoing power shortages, prompting urgent measures to secure fuel supplies. The high price reflects global market tensions and supply constraints, exacerbating economic pressures. Authorities are working to stabilize the grid and prevent further disruptions to essential services and industrial operations.