India's Petronet LNG Plans LNG Terminal in Bangladesh

Petronet LNG Ltd has plans to set up a 5 million tonne LNG terminal in Bangladesh.

According to Press trust of India, this terminal is in addition to 3.5 mt terminal that Bangladesh is looking to set up, for which Petronet is one of the firms that has been shortlisted.

"Bangladesh has huge unmet gas demand particularly to power generation. So during the recent visit of Petroleum Minister Dharmendra Pradhan to Dhaka, we proposed to set up a 5 million tonne capacity terminal on government-to-government basis," Press trust quoted Petronet Managing Director & CEO Prabhat Singh as saying.

Initial response from Bangladesh, he said, has been encouraging and the company would be visiting Dhaka again this month to make a presentation on its plans.

Petronet will procure the fuel from international markets and supply to utilities in Bangladesh. The company is seeking payment assurances to cover for its investments.

Besides Bangladesh, Petronet has also proposed to set up 1 mt LNG terminal in Sri Lanka to meet local demand.