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Intraco Refueling Expects Revenue Boost from Gas Transportation Deal

Industry: Energy & Power, LNG
Company: INTRACO Refueling Stations Limited
Company Intelligence Tag: Business Insights

Intraco Refueling Station anticipates a significant increase in revenue and profit through the transportation of surplus gas from Bhola gas fields to industries in Dhaka and Gazipur. The company has entered into a 10-year agreement with Sundarban Gas Company to facilitate this operation and the deal has the potential to triple the company’s turnover and substantially increase its profit margin.

The transportation of gas is set to commence within the next two to three months, with an initial capacity of 5 million cubic feet per day (mmcfd). Over the next year, gas imports are expected to rise to 20 mmcfd. Industries receiving the gas will pay Tk47.60 per unit, higher than the current rate of Tk30 per unit for industrial gas. Sundarban Gas Company will receive Tk17.10 from the price, while the remaining amount will go to Intraco Refueling for transportation and other costs.

Intraco Refueling Station, which reported a revenue of Tk108 crore and a net profit after tax of Tk10.34 crore in the fiscal year 2021-22, was chosen for the project under the Quick Enhancement of Electricity and Energy Supply Act 2010. Under the new contract, the company will also have the authority to select consumers from Titas Gas Transmission and Distribution Company’s distribution areas and collect bills.

 

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