Qatar keen to invest in power energy sector


30th October, 2019 04:57:13 printer

Qatar keen to invest in power energy sector

Qatar wants to invest in a bigger way in Bangladesh’s power and energy sector.

An eight-member visiting delegation of the gulf country, led by its State Minister for Energy Affairs Saad Sherida Al-Kaabi, expressed the interest while meeting Bangladesh’s State Minister for Power, Energy and Mineral Resources Nasrul Hamid at Power Division office on Wednesday.

Following an hour-long meeting, Nasrul Hamid informed reporters that Qatar’s main focus was investment in the country’s LNG-based power sector.

“They’ve shown keen interest to set up LNG re-gasification terminal and also LNG-based power plant in Payra area of Patuakhali,” he said, adding that they have already participated in a bidding process invited by the government to set up LNG-based power plant.

“They bid for the project in joint venture with Exxon Mobil. Now their bid is being evaluated along with the proposals of their bidders,” said the junior minister.

Bangladesh has been importing liquefied natural gas (LNG) from Qatar’s RasGas under a 15-year long term agreement.

The import of LNG is a follow-up of a Memorandum of Understanding (MoU) signed between the two countries to enhance cooperation in the energy sector.

Nasrul Hamid said Qatar wants to extend the preview of the MoU to create more opportunities for investment in other areas as well.

Responding to a question, he said the proposed investment from Qatar will be within the government’s master plan regarding power sector as this investment will take place targeting the need of 2030.

He also disagreed with media report on surplus in power generation saying that the excess electricity generation is required for creating stability on the supply side.

He claimed that private entrepreneurs want stable and quality supply of electricity and the power sector gained that trust from the investors.