Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Sunday, July 21, 2019 02:58:16 AM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Govt to import LNG soon

It will cost extra Tk10000cr

By
19th-Dec-2017       
Comments
Share your thought
Post a comment »
Read all () »

Anisul Islam Noor :
The government has initiated to import Liquefied Natural Gas (LNG) within a short time spending an additional Tk 10,000 crore as the domestic gas reserve is drying faster than the previous guess on gas reserve and domestic demand, official source said.
Though experts and consumer rights activists called this import unnecessary, the government high-ups are determined to spend the additional Tk 10,000 crore for quick import of LNG by hiring small vessels instead of the mother vessel, they added.
However, energy expert and former adviser of the caretaker government M Tamim said, the country's dependency on imported LNG will expose the national economy to fluctuation in the international market. He advocated for exploration of oil and gas to solve energy crisis.
The quick import will be made under the purview of 'Speedy Supply of Power and Energy Act" which gave legal coverage to expensive quick rental power plants.
Its precondition is that gas to be transformed from imported LNG must be supplied within six months of signing the agreement for the purpose.    The government has already chosen two companies-Accelerate Energy of the US and local company Summit Group-for implementing the two major projects for importing LNG in bulk. The US company is supposed to bring in 500 million cubic feet of gas by next April and Summit another 500 million cubic feet by October-November 2018.
For unloading the LNG, Chittagong Urea Fertiliser Factory, Karnaphuli Fertiliser Factory and platform of Sangu gas field will be used. The two factories will also be supplied with this gas for their production.
Officials concerned said this 1000mmcf gas will be added to the national gas production of 2776mmcf gas. Current gas supply shortfall is estimated at around one billion cubic feet. Once the imported LNG is supplied, the price of gas will increase three-fold from Tk 8 per unit to Tk 27 per unit.
"This will leave a devastating impact on public life and national economy," said adviser to the Consumer Association of Bangladesh M Shamsul Alam.
As per Petrobangla projection, country's gas production may start falling in 2019. Production at Bibiyana gas field will also start depletion from the same year. The gas field is now producing 1250mmcfd of gas daily.
The government will start importing LNG from April 2018. Chevron produces more than 55 per cent of the country's gas. According to the data on the Petrobangla website, the country's 22 gas fields produce 2,676 mmcf of gas per day, of which the three fields operated by Chevron produce 1,544 mmcf per day. The government has a target to drill 108 wells by five years. Prof M Tamim said the government raised gas production target to allow the foreign companies like Gazprom for drilling wells at higher rate. He also stressed that the government should allow drilling of wells through international companies in competitive bidding process scrapping unsolicited deals.    
The Petrobangla is now rationing gas supply at consumers' level due to shortfall in supply of gas production.

Tariff
Add Rate

News Archive

Inside The New Nation

Editorial »

Administrative control over ACC only to happy the corrupts


ANTI-GRAFT campaigner Transparency International Bangladesh (TIB) has expressed deep concern and extreme disappointment over the government's decision for making Deputy Commissioners as authorised officers to oversee the Anti-Corruption Commission's work in the districts. The move will undoubtedly restrict the ACC's ability to fight graft and proper investigation into allegations of ...

Sports »

Penny drops for Canada's teen swim queen Oleksiak


Canada's Penny Oleksiak insists she has finally left the "weirdness" of capturing Olympic swimming gold at the tender age of 16 after finally recovering from a lengthy Rio hangover. Oleksiak, who is preparing for the world championships which begin in South Korea this weekend, stunned the sport when she dead-heated ...

International »

Thousands rally in support of Hong Kong police


AP, Hong Kong :Tens of thousands of people rallied in support of Hong Kong's police and pro-Beijing leadership on Saturday, a vivid illustration of the polarisation coursing through the city after weeks of anti-government demonstrations.Hong Kong has been rocked by more than a month of huge and largely peaceful protests-as ...

International »

US offers $7m to find Hezbollah agent as Pompeo visits Argentina


AFP, Buenos Aires :The United States on Friday offered a $7 million reward to find a Hezbollah operative accused of masterminding a deadly 1994 attack on a Jewish center in Buenos Aires, as Secretary of State Mike Pompeo sought to unite Latin American nations against the militants.Pompeo visited to mark ...

Entertainment »

Shilpa Shetty to return to the big screen after twelve years


Shilpa Shetty is all set to make a comeback on the big screen after a gap of twelve years. The actress was last seen in Dharmendra, Sunny and Bobby Deol starrer Apne (2007). Before jetting off on a holiday with family, Shilpa has green lit filmmaker Aziz Mirza's son Haroon ...

Editorial »

Corruption in WASA crosses all limits


THE Anti Corruption Commission has identified eight projects and three areas in Dhaka WASA where corruption takes place. The State enterprise keeps extending deadlines and increasing the costs of its projects to create room for corruption. In many cases, WASA did not carry out its work as per project designs ...

International »

UN reaches agreement with Yemen rebels to resume food deliveries


AFP, United Nations :The World Food Program has reached an agreement in principle with Yemen's Huthi rebels to resume food aid to areas they control, the agency's chief said on Thursday.Malnutrition is widespread in Yemen after four years of civil war, but the UN suspended deliveries of food aid to ...

Entertainment »

Shabnam Parvin’s Hurmoti film to be released after Eid


Entertainment Report :Viewers’ choice popular actress Shabnam Parvin has made a movie titled Hurmoti which is based on her own written story. Shabnam Parvin herself played the title role in the movie. Al Monjur wrote dialogue while script was also written by Shabnam Parvin herself. Shabnam Parvin informed that against ...

Editorial »

China funded projects: Delay would create problems


A JOINT working group has been formed to probe the slow progress of the 27 projects involving around $20 billion that China had agreed to provide during President Xi Jinping's Dhaka visit in October 2016. China has so far disbursed only $981.36 million -- less than 5 percent of the ...

Football »

Infantino reacts to Blatter criticism over Africa cleanup


AP, Cairo :FIFA president Gianni Infantino hit back at Sepp Blatter's criticism of the world soccer body's cleanup operation in Africa as a modern-day form of "colonialism."Infantino response on Thursday was: "I have to laugh about it."Blatter, the former head of FIFA who is serving a six-year ban from soccer, ...

City »

A vital portion of highway in Uttara near Armed Police Office is in dilapidated condition where big potholes and cracks following incessant rains for the last few days and works relating to metro-rail project, other development works. This photo was taken on Thursday.


International »

US against any country purchasing Russia's S-400 defence system: Pentagon


PTI, Washington :The US is keen to make its defence partnership with India stronger, the Pentagon has said, but made it clear that it is against any country purchasing military equipment, including the S-400 missile defence system from Russia, that is designed to counter America's sophisticated fifth-generation aircraft.The remarks by ...

International »

Sea-Watch captain Rackete faces Italian prosecutor over migrant rescue


AFP, Agrigento :German captain Carola Rackete, who sparked international headlines by forcibly docking in an Italian port with rescued migrants, faces questioning by an Italian prosecutor on Thursday over allegedly aiding illegal immigration.The captain of the Sea-Watch 3 is expected to be questioned in the southern Sicilian town of Agrigento ...

Entertainment »

Poppy supports Bobita’s remark


Entertainment Report :Nick name of internationally acclaimed film actress Bobita is Poppy. Due to acting in the big screen Bobita had to sacrifice her name Poppy. On the other hand, after starting acting in movies Poppy could keep her original name. Poppy sometimes feels pleasure when she recalls the original ...

Editorial »

Ensure hassle-free higher education for them


THE results of this year's Higher Secondary Certificate and equivalent examinations under country's 10 education boards were announced yesterday where the combined pass rate rose by 7. 29 percent - that means it's now 73.93 per cent from last year's 66.64 per cent. The number of GPA-5 achievers in the ...

 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news