Bangladesh receives more than one percent global LNG in first year

Bangladesh has achieved remarkable achievement by receiving more than one percent of total global LNG production in the first 12 months after entering the LNG import marketplace  as the 39th country in 2018.  

 This was revealed today at a workshop organized by Excelerate Energy L.P. (Excelerate), an US-based LNG company in the capital that brought together over 120 industry leaders from the public and private sector to discuss the pertinent topics surrounding the global LNG industry and gas markets of Bangladesh.

 The workshop titled “Bangla LNG Workshop 2019– Best Practices for LNG Market and Infrastructure’ focused on the critical role of LNG along with new natural gas infrastructure over Bangladesh’s growing economy and its ever-rising demand for energy.  

Prime Minister’s Energy Advisor Dr. Tawfiq-e-Elahi Chowdhury and Deputy Chief of Mission (DCM) of the USA Embassy here JoAnne Wagner delivered keynote speeches.

Qatar Ambassador to Bangladesh Ahmed Mohammed Nasser Al-Dehaimi, South Korean Ambassador to Bangladesh Hu Kang-ild and Excelerate President and Managing Director Steven Kobos also attended the workshop, among others.

Chowdhury expressed his satisfaction over consistent supply of the LNG to Bangladesh market to meet growing domestic demand of gas.

Commenting on the first year of importing LNG, he said, “Sometimes, if you want to make fast progress, gut and intuition must work. And those things make a difference in terms of speed,” he said and added that Excelerate has done a great job in a short period of time by keeping the LNG supply chain vibrant.

Wagner said “We think that by developing a free and open natural gas market throughout the Indo-Pacific, the United States is absolutely committed to bolstering a resilient, reliable energy supply that can support stability and shared prosperity right here in Bangladesh.”

Kobos said Bangladesh has astonished the world with its dramatic entry into the LNG market. “To receive more than one percent of total global LNG production in the first 12 months of operations is truly a remarkable achievement,” he observed.

He said the Government of Bangladesh and Petrobangla have a lot to teach the rest of the world about how to put together a successful LNG import program.”

Representatives from IFC, Qatargas, Atlantic Council, Boskalis, Cheniere, The Lantau Group, Mayer Brown, Poten & Partners, Royal HaskoningDHV, Siemens Bank, and Technica also participated in the workshop.

 Bangladesh join the LNG import marketplace through the delivery of the country’s first LNG import terminal, Moheshkhali Floating LNG (MLNG) last year.  

In its first year of LNG imports, Bangladesh has successfully delivered 60 cargoes (equivalent to 3.6 million tons of LNG) imported from eight countries, providing over 180 million MMBtu of gas into the Chattogram region of the country.

 LNG imports represent a 15 percent uplift in gas supply for the country, allowing for several power plants, fertilizer factories, and industries that had previously been shut down due to a lack of feedstock, resume production.

 About Excelerate Energy L.P.

Excelerate Energy L.P. is a US-based LNG company located in The Woodlands, Texas. Excelerate is owned by George B. Kaiser and is part of his energy group that also includes Kaiser Francis Oil Co, an E&P company with production in the U.S. along with significant midstream assets, and Cactus Drilling Co, the largest private drilling company in the US. Excelerate is the pioneer and market leader in innovative floating LNG solutions, providing integrated services along the entire LNG value chain with an objective of delivering rapid-to-market and reliable LNG solutions to customers. Excelerate offers a full range of floating regasification services from FSRU to infrastructure development to LNG supply. Excelerate has offices in Abu Dhabi, Buenos Aires, Chittagong, Dhaka, Doha, Dubai, Rio de Janeiro, Salem, Singapore, and Washington, DC. Press Release received here Thursday