Government negotiates with Qatar to import LNG: Salman F Rahman

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Salman F Rahman, Investment and Private Industry Advisor to the Prime Minister, was speaking at an event titled “Meet the Foreign Correspondents Association of Bangladesh (OCAB)” at the office of the Bangladesh Investment Development Authority (BIDA) on Saturday. in Dhaka. Picture: star

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Salman F Rahman, Investment and Private Industry Advisor to the Prime Minister, was speaking at an event titled “Meet the Foreign Correspondents Association of Bangladesh (OCAB)” at the office of the Bangladesh Investment Development Authority (BIDA) on Saturday. in Dhaka. Picture: star

The government is negotiating with Qatar to reach a long-term deal to import liquefied natural gas (LNG) as its price has soared abnormally in the international market, said Salman F Rahman, private industry and adviser investment from the Prime Minister.

He was speaking at an event titled ‘Meet the Foreign Correspondents Association of Bangladesh (OCAB)’ at the office of the Bangladesh Investment Development Authority in Dhaka today.

“The government is also trying to import fuel oil from India as there is now a sanction on importing Russian oil,” Rahman said.

Even though crude oil is imported from Russia, Bangladesh’s only refinery, Eastern Refinery Ltd, does not have the capacity to refine oil, he said.

Currently, the government imports finished petroleum products such as diesel and heavy fuel oil from 14 sources to meet domestic demand.

The government is mainly looking for an alternative to local gas, as more than 70% of electricity is generated from gas-fired power plants, Rahman said.

Recently, LNG prices have surged in international markets, forcing the government to stop purchasing superchilled fuel on the spot market.

The spot market is where commodities are traded for immediate delivery.

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