After four years of negotiations, Petrobangla, Bangladesh’s state-owned oil, gas, and mineral corporation, is on the verge of finalizing agreements with an Indian private company, H-Energy Private Limited, for the import of regasified LNG through a cross-border natural gas pipeline.
According to the Petrobangla Chairman, discussions with H-Energy are in the final stages, with only a few points remaining unresolved. Once these issues receive approval from the Energy Division, agreements on pipeline installation and LNG supply are expected to be signed in the first half of the next fiscal year. Petrobangla had previously signed a memorandum of understanding (MoU) with H-Energy in June 2021 for long-term import of regasified LNG, following initial negotiations with Indian Oil Corporation Ltd in 2017.
The proposed agreements involve importing 0.8 to 1 million tonnes per annum of LNG from H-Energy, with discussions covering various aspects such as gas import through pipelines, gas utilization, economic benefits, security arrangements, and pricing mechanisms.
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