Bangladesh is going to import liquefied natural gas (LNG) from Malaysia as the Cabinet Committee on Economic Affairs approved in principle a proposal of the state-owned Petrobangla in this regard, reports UNB.

“Malaysian company Perintis Akal Sdn Bhd will supply the LNG on a long term basis and Petrobangla will buy it under the Speedy Supply of Power and Energy (Special) Act 2010,” said Sayed Mahbub Khan, additional secretary of the Cabinet Division.

State Minister for Power, Energy and Mineral Resources Nasrul Hamid also attended the meeting. 

However, no detail was disclosed about the proposal, placed by the Energy and Mineral Resources Division on behalf of Petrobangla, the oil gas and mineral corporation of Bangladesh.

According to the source, the proposal will be placed in the meeting of the Cabinet Committee on Government Purchase for a final approval.

With this new proposal, Bangladesh has chosen Malaysia as the third country to import LNG from on a long-term basis.

A top official of the Petrobangla said that the Malaysian company will annually supply 1 MTPA (million tonnes per annum) under a 15-year contract.

Bangladesh has been importing LNG from Qatar and Oman since 2018 after setting up of two FSRU (floating storage and re-gasification unit) known as LNG terminals at Moheshkhali in Cox’s Bazar.

In addition, Bangladesh imports LNG from the international spot market as well to meet its growing demands.

Bd-pratidin English/Golam Rosul