A deal signing ceremony between Petrobangla and OQ Trading, Oman will be held at a city hotel today (Monday) evening.
As a part of the government's sincere efforts to ensure energy security, a long-term agreement for importing Liquefied Natural Gas (LNG) to be signed with Oman at around 7pm today.
Under the Sale Purchase Agreement (SPA) agreement, Bangladesh will get 0.25 to 1.5 million metric tonnes (MMT) of LNG annually from OQ Trading from 2026.
Prime Minister's energy adviser Dr Tawfiq-e- Elahi Chowdhury, Bir Bikram and State Minister for Power Energy and Mineral Resources Nasrul Hamid will witness the deal as the chief guest and special guest respectively.
Earlier, Bangladesh signed LNG import agreements with RasGas and QatarEnergy to ensure uninterrupted supply of natural gas to the consumers.
On June 1, 2023, Bangladesh signed the second long term 15-year agreement with QatarEnergy for importing 1.8 million metric tons (MMT) of LNG per year.
Besides, Bangladesh already has a deal with Qatar's RasGas which was signed on September 25, 2017, for a 15-year period, providing a supply of 1.8-2.5 MMT per year of LNG.
State Minister for Power, Energy and Mineral Resources Nasrul Hamid told BSS recently that the new agreement with Oman will be a milestone in the strong bilateral relationship between the two friendly countries.
He said as Bangladesh's economy grows and per capita income increases, the demand for energy is growing rapidly. The current electricity generation capacity stands at 25,284 MW.
The government has set a target to generate 40,000 MW of electricity by 2030 and 60,000 MW by 2041. Electricity coverage throughout the country has reached 100 percent.
Bangladesh has emerged as one of the fastest-growing economies globally, Nasrul Hamid added.
"As a relatively cleaner fuel source, LNG is a priority to meet the increasing energy demand," he said.
