The government will construct floating liquefied natural gas (LNG) terminal with a daily capacity of 500 MMCF at Maheshkhali to meet the country’s energy demand.
The Cabinet Committee on Economic Affairs (CCEA) today approved the “Term Sheet Agreement” signed with Singapore-based Astra Oil and Excelerate Energy Consortium in this regard.
“We would construct floating LNG terminal and hope it would be completed by two years,” said Finance Minister A M A Muhith who chaired the meeting at the cabinet division.
The minister told reporters that the price of imported LNG would not vary much compared to that of gas price of domestic market.
The state-owned principal body in the country’s hydrocarbon sector, Petrobangla initialed a term sheet agreement with the Singapore-based Astra Oil and Excelerate Energy Consortium. As per the agreement, Astra Oil will set up the LNG terminal and operate it.
It has to complete the construction work by 16 months from the date of final agreement targeting a tentative commission date of the project in 2017.
Besides, the Cabinet Committee of Government Purchase (CCGP) has given nod to nine procurement proposals at another meeting, also chaired by the finance minister at the cabinet division.
Mustafizur Rahman, Joint Secretary of Cabinet Division, after the meeting, briefed newsmen at the conference room of cabinet division.
The CCGP approved the proposals of Governance Improvement and Capacity Development (GICD) Consultancy Services under Northern Bangladesh Integrated Development Project (NOBIDEP), setting up of Dual Fuel System in Shikalbaha 150 MW Peaking Power Plant, and procurement of 2831 laptops and 2831 multimedia projectors for distribution to different educational institutions under the project for introduction of education in secondary and higher secondary levels through ICT.
Besides, procurement of 30-50 MW power from the open market of India, procurement of 50,000 metric tons of wheat under package-IV through international quotation, procurement of two tugboats and one boya under collection of 10 dredgers, crane-boat, officers’ houseboat, crew houseboat and other equipment projects (revised) and construction of six-km road of Rampal Power Plant were approved in the meeting.