Bangladesh approves Tk 12,300cr China deal for LNG terminal
Bangladesh has approved a Tk 12,300 crore government-to-government contract with China's CNEE to build a third offshore LNG terminal at Maheshkhali amid severe gas shortages.
Bangladesh has approved a proposal to establish a third Floating Storage and Regasification Unit (FSRU) at Kutubjom in Maheshkhali, Cox's Bazar. According to a finance ministry statement on Thursday, the Cabinet Committee on Government Purchase cleared the government-to-government contract with China National Energy Engineering & Construction Co Ltd (CNEE).
Under the agreement, authorities will pay over Tk 12,300 crore for a 15-year term or around Tk 13,160 crore for 20 years. The offshore terminal will have a base regasification capacity of 600 million cubic feet per day (mmcfd), with a peak capacity of 750 mmcfd.
The move comes amid severe energy shortages triggered by war in the Middle East. QatarEnergy, Bangladesh's main LNG supplier, reduced scheduled 2026 deliveries following shipping disruptions in the Strait of Hormuz, compelling the country to buy expensive spot-market cargoes.
Source: The Daily Star
