Samsung Keen on Building LNG Receiving Terminal in Bangladesh

Samsung C&T Corporation is interested in building LNG receiving terminal in Bangladesh, according to local daily Dhaka Tribune.

The South Korean firm gave a proposal letter in this regard to State Minister of Power, Energy and Mineral Resources Nasrul Hamid in March.

The plant will be set up on a “build, own and operate” (BOO) basis, Dhaka Tribune reported adding that Samsung will submit a final proposal after getting the nod from the ministry.

The Power Ministry is considering Samsung's proposal and will forward it to Prime Minister Sheikh Hasina, who is in charge of the ministry, a ministry official told the newspaper.

Bangladesh has been witnessing acute shortage of gas which has affected industries such as fertilizer and power. In 2011, Bangladesh signed a MoU with Qatar to import annually 4 million tons of LNG from the Qatar Petroleum.  But the country could not import the fuel as necessary infrastructure for this purpose is yet to be built.

The MoU expired in March 2015 after a two-year extension from its initial tenure, but Bangladesh expects its tenure to be extended until 2017.