Bangladesh receives more than one percent global LNG in first year

DHAKA Bangladesh has received more than one percent of total global LNG production in the first 12 months after entering the LNG import marketplace as the 39th country in 2018.

This was revealed today at a workshop organized by Excelerate Energy L.P. (Excelerate), an US-based LNG company in the capital that brought together over 120 industry leaders from the public and private sectors to discuss pertinent topics surrounding the global LNG industry as well as Bangladesh gas market, a release said.

The workshop titled Bangla LNG Workshop 2019- Best Practices for LNG Market and Infrastructure focused on the critical role of LNG along with new natural gas infrastructure over Bangladesh's growing economy and its ever-rising demand for energy.

Prime Minister's Energy Advisor Dr. Tawfiq-e-Elahi Chowdhury and Deputy Chief of Mission (DCM) of the USA Embassy here JoAnne Wagner delivered keynote speeches.

Qatar Ambassador to Bangladesh Ahmed Mohammed Nasser Al-Dehaimi, South Korean Ambassador to Bangladesh Hu Kang-ild and Excelerate President and Managing Director Steven Kobos also attended the workshop, among others.

Chowdhury expressed his satisfaction over consistent supply of the LNG to Bangladesh market to meet growing domestic demand of gas.

Describing Bangladesh success on the first year of importing LNG, he said, Sometimes, if you want to make fast progress, gut and intuition must work. And those things make a difference in terms of speed.

Wagner said the USA is absolutely committed to bolstering a resilient, reliable energy supply by developing a free and open natural gas market throughout the Indo-Pacific, that can support stability and shared prosperity right here in Bangladesh.

Kobos said Bangladesh has astonished the world with its dramatic entry into the LNG market. To receive more than one percent of total global LNG production in the first 12 months of operations is truly a remarkable achievement, he observed.

Bangladesh joined the LNG import marketplace through the delivery of the country's first LNG import terminal, Moheshkhali Floating LNG (MLNG) last year.

In the first year Bangladesh has successfully delivered 60 cargoes (equivalent to 3.6 million tons of LNG) imported from eight countries, providing over 180 million MMBtu of gas into the Chattogram region while the country is expected to make its annual LNG import triple to at least 10 million tonnes over the next three to four years

Recently, Bangladesh has shortlisted 17 companies for its spot tender process as it plans to buy around 1 million tonnes of liquefied natural gas (LNG) next year to capitalise on lower prices for the super-chilled fuel.

Source: Bangladesh Sangbad Sangstha (BSS)