Stage set for inking LNG import deal with Qatari co

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FE Report
The government is keen to enter into a contract with the Qatar Petroleum for immediate import of liquefied natural gas (LNG) through special tankers known as 'floating, storage and re-gasification units' (FSRUs), a top government official said Monday.
"We will approach the state owned company of Qatar to ink a deal with Petrobangla to ensure LNG import as soon as possible to ease the mounting energy crisis across the country," LNG cell chief M Muqtadir Ali told the FE.
He said a high-level delegation would visit Qatar shortly to hold discussion with Qatar Petroleum, a potential source for LNG import, for reaching an agreement.
The next course of action including invitation of pre-qualification tender and other relevant actions relating to LNG import would depend on the outcome of the talks with the Qatari company, he added.
"We would seek all-out support from Qatar including those concerning LNG, its shipment and construction of an LNG import platform," said Mr Ali, who is the former Petrobangla chairman.
The energy ministry held a meeting at the secretariat Monday to expedite import of LNG.
The government has decided to import at least 3.5 million tonnes LNG per year, which is equivalent to daily natural gas supply of 500 million cubic feet, involving US$ 1 to $1.5 billion -- mainly to meet the energy demand of the port city Chittagong.
The country's all gas-guzzling industrial units, fertiliser factories, power plants and households are now facing the pinch of gas crisis due to low pressure and inadequate supplies.
Top ministry officials already held talks with a number of global LNG firms including the US' Excelerate Energy and UK's SBM Imodco to expedite LNG import.
It has also assigned Excelerate Energy to complete a study to find out the best possible location for the terminal and how much it will cost.
Petrobangla chairman Dr Hossain Monsur also held talks with the Asian Development Bank (ADB) to arrange funds for the LNG project.
Some 20 foreign firms have shown interest to provide technical support and build the LNG terminal during the recently held overseas road shows in New York, London and Singapore.
Officially the country's gas demand stands at around 2,200 mmcf a day against daily supply of less than 2,000 mmcf, but the hidden demand is believed to be over 2,500 mmcf a day, said Petrobangla sources.