A high-powered delegation of the Russian oil and gas company, Gazprom, arrived in the capital Tuesday, to tie up energy cooperation with the state-owned Petrobangla. During this visit, the Gazprom is expected to sign a memorandum of understanding (MoU) with the Petrobangla to drill five gas wells and install two compression stations, said a government official. The Gazprom team will also hold discussions with Prime Minister Sheikh Hasina, Prime Minister's Adviser on Energy Dr Tawfiq-e-Elahi Chowdhury, and top officials of the Ministry of Energy and Mineral Resources and the Petrobangla. Detailed discussions on technical and financial offer from the Gazprom and mode of payments for the planned works would also take place, said the official. The visiting Russian delegation will be in Bangladesh until April 22. The Petrobangla officials said the Gazprom has already agreed to drill wells and build compression stations under state-to-state deals. Four of the proposed wells are located at Titas gas-field, owned by the Bangladesh Gas Fields Company, and the remaining one is at Rashidpur gas-field of the Sylhet Gas Fields Company. A total of around 100 million cubic feet per day (mmcfd) gas output is expected from the five wells, to be drilled by Gazprom. Gazprom would also provide the necessary equipment in Bangladesh for the drilling. Russia is likely to provide soft loans to Bangladesh to carry out the works, or arrange suppliers' credit to implement the projects, said an official. The top officials of energy ministry and Petrobangla earlier held a series of discussions with Gazprom officials on the planned bilateral cooperation on energy sector. Prime Minister Sheikh Hasina also held discussions with her Russian counterpart Vladimir Putin over the issue during her recent visit to Russia. Once the planned deal is inked, the Gazprom would be the first foreign company to drill gas wells in the state-owned gas fields under state-to-state deals.
© 2025 - All Rights with The Financial Express
