Dhaka, March 19 -- Bangladesh's state-run Petrobangla has sought an additional US$350-million loan guarantee from the World Bank to augment LNG imports amid escalating Middle East tensions and soaring global fuel prices.

"We have requested the Economic Relations Division (ERD) to expedite the funding to facilitate the buying of liquefied natural gas (LNG) from global suppliers," Petrobangla's director of finance, AKM Mizanur Rahman, told the Financial Express on Tuesday.

"Initially our plan was to seek an additional $250 million but later decided to seek more to meet the growing need," he said.

The fresh fund request would add up to an existing $350-million guarantee facility, totaling fund support from World Bank's concessional lendin...