Bangladesh's Petrobangla seeks $1.4 bil government funding for LNG imports
Dhaka (Platts)--28 Feb 2017
State-owned Petrobangla has sought $1.4 billion from the government to foot LNG imports in 2018, which was around 77.77% of the estimated total cost of importing, LNG cell chief Mohammed Quamrumman said Tuesday.
"We sought the funding from the government as subsidy as we would not be able to realize the LNG import costs through sales to consumers in the domestic market," he said.
The domestic price of gas is $2.50-3/Mcf, which is much lower than international levels, Quamrumman said.
Petrobangla has estimated the total cost of LNG imports at around $1.8 billion/year from 2018 when Bangladesh's first floating storage and regasification unit that is being developed by US-based Excelerate at Maheshkhali island in the Bay of Bengal, is expected to be ready.