LPG is being imported secretly from Iran!

  • Special Correspondent, Barta24.com
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LPG is being imported secretly from Iran!

LPG is being imported secretly from Iran!

It has been alleged that some companies in Bangladesh are secretly importing LPG from Iran. Many believe that Iran's LPG is imported to Iraq first, and then loaded from Iraqi ports to Bangladesh.

An LPG importer has claimed that Iranian LPG is being concealed and fake documents are being displayed. Due to this, they are not able to compete with LPG brought in at a lower price.

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He also said, on the one hand, as we are suffering, the country is also at risk. As Iran is a country under US sanctions, such imports may expose Bangladesh to US sanctions. Fresh LPG and JMI LPG and several other companies may involve in this wrongdoing.

Recently, a ship named 'G-YMM' arriving at Chattogram port has been accused of being used for illegal importation. On investigation, it is known that the registration number of the ship named 'G-YMM' anchored at Chattogram port (IMO number: 9139696) and another ship named 'J Tiger' are the same. Many believe that the ship named 'JYMM' has arrived at Chattogram Port with Iranian LPG using a fake name.

A company named Gas Challenger opened an LC with UCBL Bank and imported Iranian LPG. Already, LPG dealers, distributors have filed a complaint with Bangladesh Bank citing the illegal business support of some banks. It mentioned ten companies using different vessels to import LPG by falsifying documents. In this, the intervention of the Governor of Bangladesh Bank is sought.

Bill of Entry and Import General Menu fest (IGM) documents of Customs House Chattogram showed that a company in Bangladesh has imported 21 thousand 100 metric tons of LPG from Iraq in a ship named 'G YMM' showing loading from Khar Al Jubair port in Iraq.

But Iraq's Basra Gas Company denied this. They said in an email that they are the only authorized Iraqi company to export LPG through Quasar port. But they did not load any LPG on board 'J YMM' for export. Besides, they did not load any LPG for export from Khar Al Jubair port as well. They also said that they do not work to load LPG ships as big as 20,100 metric tons and they have no plans to do so this year. But the customs documents say that this ship is coming from Iraq.

There are many complaints against M Rashedul Islam regarding the import of LPG from Iran who was once head of supply chain at BM Energy.

He told Barta24.com, "I am not an importer, so there is no chance of being associated with it." As BM Energy heads the supply chain, some contacts are made. I actually liaise between the seller and the buyer. It is up to them who gets LPG from where. I never negotiate with any company in Iran. But I have contact with companies in Oman and Iraq brought to Oman and Iraq chambers with proper documents.

He said that there were allegations of LPG import from Iran once before, but later it was proved wrong.

In response to a question whether LPG is imported from Iran or not, he said, "I don't know whether anyone brings it from outside or not." I think when a word comes out in the market; there may be some truth to it. When I was working I heard these issues being discussed in LOAB (LPG importers' association) meetings.

It is alleged that a person is supplying Iranian LPG to Bangladesh under the banner of different companies. But the owners of these companies are the same person. These companies include Manasi Trading LLC, Sahel Star Well & Gas LLC, Merano Petrochemical LLC to name a few.

Many LPG traders think that if LPG is imported secretly from Iran, it will create a risk of US sanctions on the trade and commerce of Bangladesh. They advised the concerned agencies of the government to take action against it. They also said that the LPG imported from Iran is of low quality and the consumers are being cheated.

The LPG market in Bangladesh is growing rapidly. In the financial year 2008-09, 44 thousand 974 metric tons of LPG was used in the country. In a few years the demand increased to 12 lakh tonnes. According to a study by JICA, the demand will be 30 lakh tons in 2025 and 60 lakh tons in 2041. 98% of LPG used in the country depends on imports. The market share of the government (Bangladesh LP Gas Company Limited) company is only one and a half percent. The government has approved 56 companies so far. Among them, 28 companies are in the market, several companies are in the preparation stage.