Petrobangla on Tuesday has signed a Memorandum of Understanding (MoU) with Gunvor Singapore PTE Ltd to import Liquefied Natural Gas (LNG).
State minister for power, energy and mineral resources Nasrul Hamid was the chief guest of the MoU signing ceremony. Among others energy secretary Nazimuddin Chaudhury, Petrobangla chairman Abul Monsur Md.
Fayzullah were present at the ceremony.
Petrobangla Secretary Syed Ashfaquzzaman and Speelevelid, the Head of LNG-BD/Asia of Gunvor Singapore PTE Ltd, signed the MoU on behalf of their respective sides.
The state minister said that, energy security will be assured by managing uninterrupted supply of primary fuel. LNG will be supplied with the regular gas to the industries which may rise the overall price of the gas for a time being but it will be beneficial to the industrialists in the long run. The prevailing crisis of gas may get
redeemed from the next april, he said. He further said that, an Expression of Interest (EOI) was requested on 17th Augustto procure LNG from the spot market and 41 different organization have expressed
their interest. A panel will be formed to sign the sales and procurement agreement, said the minister.
So far, the government have signed MoUs with Rasgas of Qatar, Oman Trading International of Oman, Pertamina of Indonesia, Astra Oils of Switzerland and lately with the Geneva based Gunvor of Singapore to
import LNG from them
The first chunk of 50 crore cubic feet of LNG will be imported in April, 2018 which will be utlilized by the port city of Chittagong. In the second phase another 50 crore cubic feet LNG will be imported in
October and it will be supplied to the central areas of the country.
However, even Chittagong being the first consumer of the first 50 ccf LNG, the benefits will be shared to the rest part of the country as the allocated 23-25 ccf natural gas for Chittagong will be supplied to
other parts of the country. Besides, the government has taken steps to install LNG based power plants.