Govt to sign MoU for LNG import from three countries | 2017-10-19 |

Govt to sign MoU for LNG import from three countries

Sun Online Desk     19th October, 2017 07:17:42 printer

Govt to sign MoU for LNG import from three countries

The government has launched a process to sign Memorandums of Understanding (MoUs) with three more countries to import Liquefied Natural Gas (LNG) on government to government arrangements in view of its rapidly growing demand, officials said Thursday.


The countries from which government will import LNG are Oman, Indonesia and Malaysia, BSS reports.


An official familiar with the process revealed this after a meeting with Prime Minister's energy advisor Dr Towfiq-e-Elahi Chowdhury in the chair at the PMO discussed elaborately on LNG import and finance along with other related issues.


According to the official, under the proposed deals 60 LNG-laden cargo vessels would carry the fuel to Bangladesh annually.


The initiatives to sign the MoUs were launched while the government last month signed a 15-year deal with Qatar for LNG import from next year.


"We will be able to import LNG from Qatar cheap price and easy condition and the Qatar government could also consider financing for the import," the official quoted State Minister for Power, Energy and Mineral Resources Nasrul Hamid as telling the meeting.


He said the LNG would initially be imported from Qatar's state run RasGas, which would be supplied to the national grid through the Floating Storage and Re-gasification Unit (FSRU) at Moheshkhali.


Additional secretary of power division told the meeting that the country would require 3,000-mmcfd gas by 2041 against the existing daily demand of 3,400 mmcfd and availability of 2,700 and so "it is necessary to specify how much gas would come through government imports.


On September 25, 2017, Bangladesh signed a long-term "LNG Sales and Purchase Agreement with Qatar's RasGas" to import up to 2.5 million tonnes of LNG annually to meet the country's growing energy demand.


The meeting also instructed to form two committees on finance and the LNG price and suggested to submit separate report within one month.