Bahrain seeks to import LNG amid ample market supply

Bahrain, the smallest oil producer in the Persian Gulf, is looking to import liquefied natural gas (LNG) and considering long-term agreements.

Bapco Energies, the country's state-owned energy company, received a cargo of LNG this month after restarting a floating import terminal, and is expecting another one to arrive in June. Bapco Chief Executive Officer Mark Thomas said the firm has already issued a tender for fuel deliveries in June and July and may request another cargo for later in the year. He added the LNG market is currently well supplied.

In addition to imports, Bahrain is looking to develop its own gas fields, Thomas noted.

According to Bloomberg, trade tensions in recent months have hindered global economic growth and energy demand, particularly in China. Consequently, other buyers are left with more available fuel. Additionally, new LNG projects are expected to begin operating in the coming years. These will contribute to supply growth and attract previously less active consumers.