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Term-sheet agreement signed for LNG terminal
State-run Bangladesh Oil, Gas and Mineral Corporation (Petrobangla) has signed a term-sheet agreement with Singapore-based Astra Oil and Excelerate Energy Consortium for setting up the LNG terminal in the Bay of Bengal.
Published : 25 Feb 2015, 06:29 PM
Updated : 25 Feb 2015, 06:29 PM
Petrobangla Secretary Shafiqur Rahman and Excelerate Director Sampo Suvisaari signed the agreement in Dhaka on Wednesday.
State Minister for Power Nasrul Hamid said at the signing ceremony: “Though late, today we’ve stepped into a new area.”
“The highest utilisation of fossil power will be ensured due to the agreement. Many challenges are ahead to meet energy crisis. But a new door has been opened through signing of this agreement,” he added.
The junior minister advised Petrobangla to carry on research to tackle the energy shortage.
Prime Minister’s Energy Adviser Taufiq-e-Elahi Chowdhury said Bangladesh needed to explore latest technologies to find a solution to the energy problems to graduate to a middle-income country.
The terminal will be built up in Moheshkhali in the Bay of Bengal.
The previous Awami League government undertook the LNG terminal project in 2009.
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