Bangladesh, Malaysia sign LNG MoU
Bangladesh and Malaysia have signed a memorandum of understanding on the supply of LNG, the government of Bangladesh said on July 13.
According to the MoU, Petronas LNG of Malaysia and Petrobangla of Bangladesh will soon finalise the commercial terms. The MoU was signed virtually by Bangladesh’s state minister for power, energy and mineral resources Nasrul Hamid and minister of economic affairs in the office of the prime minister of Malaysia Mustapa Mohamed.
Hamid said that demand for gas in Bangladesh’s power generation sector is steadily growing and is expected to reach 3.15bn ft3/day by 2041. He said that since domestic production of natural gas is declining, the import of LNG will be prioritised.
Bangladesh has two operational floating LNG import and regasification terminals. A land-based terminal is also being planned, the minister said.
Last month, India's H-Energy signed an MoU with state-owned Petrobangla for the supply of regasified LNG.