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31 October, 2019 12:47:18 AM
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Qatar plans mega investment in Bangladesh energy sector

Says Nasrul Hamid
AGENCIES, Dhaka
Qatar plans mega investment in Bangladesh energy sector

State Minister for Power, Energy and Mineral Resources Nasrul Hamid yesterday said Qatar has expressed willingness to make mega investment in Bangladesh’s energy sector along with strengthening bilateral relations.

The gulf country has shown keen interest to set up LNG re-gasification terminal and LNG-based power plant in Payra area of Patuakhali

An eight-member visiting delegation of the gulf country, led by its State Minister for Energy Affairs Saad Sherida Al-Kaabi, expressed the interest while meeting Bangladesh’s State Minister for Power, Energy and Mineral Resources Nasrul Hamid at Power Division office yesterday.

Following an hour-long meeting, Nasrul Hamid informed reporters that Qatar’s main focus was investment in the country’s LNG-based power sector.

“They’ve shown keen interest to set up LNG re-gasification terminal and also LNG-based power plant in Payra area of Patuakhali,” he said, adding that they have already participated in a bidding process invited by the government to set up LNG-based power plant.

“They bid for the project in joint venture with Exxon Mobil. Now their bid is being evaluated along with the proposals of their bidders,” said the junior minister.

Bangladesh has been importing liquefied natural gas (LNG) from Qatar’s RasGas under a 15-year long term agreement.

The import of LNG is a follow-up of a Memorandum of Understanding (MoU) signed between the two countries to enhance cooperation in the energy sector.

Nasrul Hamid said Qatar wants to extend the preview of the MoU to create more opportunities for investment in other areas as well.

Responding to a question, he said the proposed investment from Qatar will be within the government’s master plan regarding power sector as this investment will take place targeting the need of 2030.

He also disagreed with media report on surplus in power generation saying that the excess electricity generation is required for creating stability on the supply side.

He claimed that private entrepreneurs want stable and quality supply of electricity and the power sector gained that trust from the investors. The gulf country is very much interested to work with Bangladesh in the field of energy and power, said the visiting Qatari Minister of State for Energy Affairs Saad Sherida Al-Kaabi yesterday.

“We’re keen to work with Bangladesh in the field of energy and power for mutual benefits of the two countries,” he said when he paid a courtesy call on Prime Minister Sheikh Hasina at her official residence, Ganabhaban in the capital.

After the meeting, PM’s Press Secretary Ihsanul Karim briefed reporters.

Pointing out Bangladesh’s rapid development in the last one decade, Sherida Al-Kaabi said: “The more you develop the more you need energy.”

In this connection, the Qatari state minister said they have taken initiatives to generate more electricity ahead of the World Cup Football-2022 in Qatar

EA

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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