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Gas
Govt moves to drill 108 wells in onshore blocks
The government has placed special stress on natural gas exploration to ensure the country’s future energy security, state ministerfor power, energy and mineral resources Nasrul Hamid said on Tuesday. Steps have been taken to drill some 108 new wells, he added. Nasrul announced this while speaking as the chief guest at an event organised by Chevron Bangladesh at a hotel in Dhaka, said a press release. The consumption of liquefied petroleum gas (LPG) as an alternative to natural gas is being encouraged, he said. The government is moving ahead with the target of becoming a developed country, prioritising the advancement of power and energy sector, he also said. Already, some 90 per cent people have been brought under the grid power and 5.20 million people under the solar home systems, he said. He also recognised the contribution of Chevron Bangladesh towards the country’s development. Energy and mineral resources secretary Abu Hena Md Rahmatul Munim, Petrobangla chairman Abul Mansur Md Faizullah, US ambassador to Bangladesh Marcia Bernicat, and Chevron Bangladesh’s outgoing president Kevin Lyon also spoke on the occasion. Chevron Bangladesh’s newly-appointed president Neil Menzis was introduced at the function.
City’s gas crisis likely to linger despite move to add more gas to nat’l grid
May 24, 2018 Thursday 11:23 AM By UNB
Despite the government’s move to add 500 million cubic feet of gas per day (mmcfd) to the national gas network, the severe gas crisis that the city dwellers have been experiencing in many areas is unlikely to be resolved soon due to weak distribution network, officials said. The government has planned to add 500 mmcfd gas to the national grid from the current month by importing liquefied natural gas (LNG) from Qatar. The LNG ship has already arrived at Moheshkhali LNG terminal and now awaiting supply to national gas network. But officials at state-owned Titas Gas Transmission and Distribution Company Ltd think that this will have little impact on the current grim situation because of weakness in distribution network. They said addition of more gas would not work to ease the situation until a project is taken to improve distribution line. “Actually, no major project was undertaken in recent years to improve the capacity of the Titas distribution lines because of the government’s policy to discourage the residential use of gas,” said a top official of the company on condition of anonymity.  In most areas, he mentioned, the distribution lines have become very incapable to meet the demand of gas the demand of which is growing because of rampant construction of high-rise buildings in and around Dhaka city. “Where there was only one or two families on a piece of land, now more than 10 families are living there after the construction of a high-rise apartment building,” he said. The areas facing gas crisis include Mirpur, Kazipara, Sewrapara, Mohammadpur, Sheymoli, Adabar, Kalayanpur, Nakhalpara, Kathalbagan, Cenrtral Road, Crescent Road, Moghbazar, Molibagh, Badda, Basabo, Old Dhaka, Lalbagh, and Jatrabari.   The consumers of these areas experience poor gas flow in most of the time of the day. “We start getting gas after 10 pm and that flow prevails for only three to four hours. Even no adequate pressure is found to cook meals in ovens,” said Salma Begum, a housewife in the city’s Nakhalpara area. The similar experience was shared by Nurjahan  Khatun in Kazipara area of Mirpur. She said she has to cook at midnight on most occasions. According to official sources, some 30 percent of the Titas consumers in the city have been experiencing the gas shortage for long. However, Syed ManzurIlahi, deputy managing director and also project director of Supply Efficiency Improvement of Titas Gas, said they have constantly making efforts to improve the situation. “Titas is currently implementing a pre-paid gas meter installation project to stop such illegal connections. Once the project is fully implemented, it’ll significantly improve the situation,” he said. But many senior officials who do not want to speak openly believe there will be no end to the ongoing gas crisis unless there is any policy change on the government side. Currently, they said, Titas gas has alone almost 500 mmcfd gas shortage to meet its demand as it is receiving about 1580  mmcfd gas from  Petrobangla to serve its 2.734  million consumers.  Of these, residential consumers are about 2.717 million while commercial consumers are 10,919 and industrial consumers are 4,610. The officials said Titas Gas needs projects to improve the capacity of its distribution lines across the city and elsewhere. They also mentioned that there are more than 300,000 million illegal gas connections in many areas in and around the Dhaka city. These areas include Keraniganj, Narayanganj, Fatullah, Badda, Merul Badda, Tekpara, Kathalia and Namapara. “But local MPs create obstacles when we move to take action against such illegal gas consumers,” said an official.
Category: Gas
‘Hearing on proposal for fresh gas price hike begins June 11’
May 11, 2018 Friday 3:05 PM By Staff Correspondent, energynewsbd.com
Gas price is likely to increase further in Bangladesh ahead of the next general election following the import of liquefied natural gas (LNG), as distribution companies have proposed raising prices of all categories except household and commercial ones. Bangladesh Energy Regulatory Commission (BERC) will hold public hearing on the adjustment of gas prices. The hearing will begin on June 11 and continue until June 21, said a BERC notification issued on May 9. On June 11, public hearing on the Gas Transmission Company Limited (GTCL) proposal for a transmission charge increase will be held. Titas Gas Transmission and Distribution Company will hold hearing on the proposal for a hike in distribution charge and consumer-level gas prices on June 13. Bakhrabad Gas Distribution Company Limited and Jalalabad Gas Transmission and Distribution system limited will hold a hearing on June 14, Paschimanchal Gas Distribution Company Limited on June 18, Karnaphuli Gas Distribuntion Company Limited on June 19 and Sundarban Gas Distribution Company Limited on June 21. If the gas prices hike, transmission charge will be raised. The hike proposal by the Gas Transmission Company is being taken under consideration. LNG import supply to the country will begin in the last week of this month. Meanwhile, US based Excelerate Energy ship carrying LNG from Qatar RasGas has reached Bangladesh coast. According to the proposal, the price of per cubic metre gas used for grid power production has been proposed to be increased by 206 percent. The price of per cubic metre gas has been raised from Tk 3.16 to Tk 10.48. The price of per cubic metre gas used for captive power generation has been proposed to be raised by 66 percent. The price of gas has been increased from Tk 9.62 to Tk 16. The price of gas used for fertiliser production has been proposed to be shot up by 372 percent with an increase in prices of gas per cubic metre from Tk 2.71 to Tk 12.80. Besides, the price of gas used in industries has been proposed to be hiked by 93 percent with an increase in gas price per cubic metre from Tk 7.76 to Tk 14.90. The price of compressed natural gas (CNG) has been proposed to be gone up by 120 percent. The CNG price has been hiked from Tk 40 to Tk 48. Sources in the government said gas price is likely to be hiked following the high cost of LNG import. The government will not give a huge amount of subsidy on LNG import. It is mentioned that gas price was adjusted last February by 22.70 percent on an average. Now average price of per cubic metre gas price is Tk 7.35. At present, households pay Tk 750 for a single burner and Tk 800 for double burner every month.
Category: Gas
Bangladesh imports 1m tonnes LNG from Oman
May 6, 2018 Sunday 11:55 PM By Staff Correspondent, energynewsbd.com
As per the government`s move to ensure energy security in the country, the state owned Petrobangla today signed an agreement with Oman Trading International (OTI) for importing one million tonnes of Natural Liquefied Gas (LNG) from Oman. Secretary of Petrobangla Syed Ashfaquzzaman and Attorney of OTI, a state-owned organization of Oman signed the contract on behalf of their respective sides at Petrobangla Bhaban here. State Minister for Power Energy and Mineral Resources Nasrul Hamid witnessed the signing ceremony as the chief guest, while energy and mineral resources division secretary Nazimuddin Chowdhdury and Petrobangla chairman Abul Mansur M Faizullah were present. According to the deal, the government would import one million LNG from Oman at cost of US Dollar 9 per mmbt and the agreement would valid for 10 years on deliver ex ship method. The LNG is expected to be brought by July this year. Besides, the government is importing a total of 500 mmcfd of LNG from Qatar to meet the country`s growing demand. The LNG would be added into the national grid from this month. Earlier, the government signed a long term contract with Qatar`s RasGas for 1.8 million tonnes of LNG per annum.
Category: Gas
Bangladesh, Oman to sign deal for LNG today
May 6, 2018 Sunday 6:53 AM By Staff Correspondent, energynewsbd.com
State owned Petrobangla is set to sign an agreement today for importing Natural Liquefied Gas (LNG) from Oman aimed at ensuring energy security in the country. Senior Information Officer of Power, Energy and Mineral Resources Ministry Mir Mohammad Aslam Uddin said that the agreement to this effect would formally be inked at a ceremony at Petrobangla Bhaban in Dhaka. The Petrobangla, he said, would sign the agreement with Oman Trading International, a state-owned organisation. State Minister for Power, Energy and Mineral Resources Nasrul Hamid would witness the signing ceremony as the chief guest. Besides, the government is importing a total of 500 mmcfd of LNG from Qatar to meet the country’s growing demand. The LNG would be added into the national grid from this month. Earlier, the government signed a long term contract with Qatar’s RasGas for 1.8 million tonnes of LNG per annum.
Category: Gas
‘20-year Energy Security Fund formulated for LNG import’
April 25, 2018 Wednesday 7:58 AM By Staff Correspondent, energynewsbd.com
The government has created an Energy Security Fund to finance in the country’s gas exploration and extraction projects, including the import of liquefied natural gas (LNG) to meet the scarcity of natural gas. On April 10, 2018, the Energy and Mineral Resources Division has issued a notification on the formation of the Energy Security Fund Policy-2018. According to the notification, the fund will be used in exploring, extracting, purifying, transmitting, distributing gas, importing LNG and taking other related projects with the help of this fund to ensure the energy security in the country. However, it is seen in the analysis of the notification that a large part of this fund will be spent for importing LNG. The government will import 500 mmcf of LNG daily and provide it to national gas grid from May next. It is said that the period of the fund will be 20 years from the date of policy issuance. After the expiration of the timeframe, the government will decide in this regard. The Bangladesh oil, gas and mineral resources corporation (Petrobangla) under the Division of Energy and Mineral Resources will take the charge of managing the fund. An eight-member committee convened by Petrobangla chairman has been constituted to fix the implementable projects to be run by the fund. The General Manager of Petrobangla LNG Cell will be the member secretary of the committee. In the circular, it has been stated that the purpose of forming this fund is to take short, medium and long-term measures to ensure safety in energy supply. If the project run by the money of the fund is considered profitable or commercially successful, then the taken investment will have to be repaid within 15 years of the beginning of the project, with the grace period of five years, on a six-month basis in 20 phases with 2 percent interest including service charges. However, the service charges will not be applicable during the grace period. The money, used only for gas exploration projects, will not be refundable if the gas is not available for extraction, or if the gas extraction is not considered economically profitable. Besides, the money spent for hiring the project consultant or experts or conducting surveys will not be refundable. In this case, the money mentioned in this regard will be regarded as donations. It is here noted that the Bangladesh Energy Regulatory Commission, in an order to increase the price of gas at the consumer level on August 27, 2015, directed to form this fund. Later, the Division of Energy and Mineral Resources formed the fund effective from September 1, 2015, said the notification. According to the commission order, the asset value of gas produced in the country will be deposited to the energy security fund for consumers` interest, with a weight average cost of 1.01 per cubic meter and the interest on the savings will also be kept in the fund. Later, the money will be spent on various projects. However, Energy Regulatory Commission has already directed to allocate approximately Tk7,000 crore for one year to Energy and Mineral Resources Division from its Energy Security Fund for the purposes of LNG import and operations of LNG terminals. The Security Fund received around Tk 6,000 crore as of December 2017.
Category: Gas
ENOC keen to supply LNG to Bangladesh
April 4, 2018 Wednesday 4:33 PM By News Desk, energynewsbd.com
UAE based Emirates National Oil Company Limited (ENOC) has shown expression of interest (EoI) to supply liquefied natural gas (LNG) to Bangladesh, thanks to the country’s growing demand of fossil fuel. Yusr Sultan Al Junaidy, ENOC Managing Director, has recently shown the interest to State Minister for Power, Energy and Mineral Resources Nasrul Hamid in this regard. Bangladesh is expected to consume 1000mmcfd of LNG gas in the current year. The energy and mineral resources division has already completed the negotiation with Qatar RajGas to import first installment of LNG late of this month. The Dubai-based ENOC Group comprises more than 30 related subsideries in oil exploration and production, refining, terminalling, downstream marketing, industrial products, lubricants, aviation and LNG trading, according to the EoI submitted to the minister.
Category: Gas
Summit signs MoU to develop a LNG to power project in Bangladesh
March 13, 2018 Tuesday 10:06 PM By News Desk, energynewsbd.com
Summit Power International Pte. Ltd, the largest independent power producer in Bangladesh, announced that Summit Corporation Limited, a subsidiary of Summit Power International along with Summit Holdings Limited, Mitsubishi Corporation and its subsidiary Diamond Gas International Pte Ltd have signed a memorandum of understanding (MoU) to develop a LNG-to-Power project at Matarbari, Moheskhali area in Bangladesh, which is expected to cost up to US$3 billion. The signing of the MoU was witnessed by the Prime Minister Sheikh Hasina of Bangladesh and Singapore’s Minister for Trade and Industry (Trade) Lim Hng Kiang at the Bangladesh-Singapore Business Forum 2018, said a Press release from Summit Power International Pte. Ltd Under the MoU, the parties agreed to develop an integrated liquefied natural gas (LNG) onshore receiving terminal with a re-gasification capacity of up to 1,500 million cubic feet per day (mmcfd), two units of 1,200 megawatt (MW) gas turbine combined cycle power projects (total of 2,400 MW), relevant high voltage transmission lines and the import of LNG. Muhammed Aziz Khan, Chairman of SPI said: “Summit has a long-established track record of working with world-renowned technical partners including General Electric, Wärtsilä and now Mitsubishi Corporation and Diamond Gas. This MoU will help SPI support Bangladesh’s fast-growing energy, power and technology needs. It will be a strategic fit for SPI to leverage Mitsubishi’s LNG, and LNG-to-Power expertise as well as understanding of Moheskhali and Bangladesh’s power needs. The two groups are well-positioned to uniquely benefit from opportunities arising from the Bangladesh government’s move to raise LNG imports to meet the country’s domestic natural gas shortfall and expand the country’s power generation capacity.”
Category: Gas
‘Explore more wells at Bhola’
March 4, 2018 Sunday 6:47 AM By Staff Correspondent, energynewsbd.com
Energy expert Professor Badrul Imam on Saturday advised to dig more exploratory wells in near the newly discovered gas fields at Bhola. Imam was speaking at the Seminar titled “Bhola Gas Fields and Energy Security” organised by the Forum for Energy Reporters of Bangladesh (FERB) at the Dhaka Club in Dhaka. Previously, he said, almost of the gas fields of the country were discovered in the Surma Basin. “After gas fields were discovered in Bhola, it is now assumed that the Meghna Basin at the southern part of the country has large gas reserve too,” added Prof Imam, who is a Professor at the Geology department in Dhaka University. He asked for conducting exploration at Char Jabbar, Char Jabbar North and Monpura area near the existing two gas fields—Shahbajpur and Bhola North—of Bhola. Prof Imam believes Maheshkhali and Swandip—two islands at the Southern tip—might have gas too. “Bangladesh is neither floating on gas not it has run out of it. I believe, there are still scopes of finding more large gas fields. But we need to conduct appropriate explorations for it,” he said. Dr Imam however believes that the lack of true interest and endeavor has made these explorations still an unattempt task. He said without exploration and eventual discovery of new gas fields, the looming energy crisis of the country could not be mitigated only by import of energy alternatives. Dr Tawfique-E-Elahi Chowdhury, Energy Advisor of the Prime Minister Sheikh Hasina who was the chief guest at the program said, he hoped a total of 1.5 trillion cubic feet (TCF) will be added at the national grid from the gas fields of Bhola. He informed that the government has taken an attempt to construct gas pipeline with which it could bring gas from Bhola to Khulna and Barishal in the mainland. The Advisor also hoped that a 600 MW power plant could be constructed with the gas found in the gas fields in Bhola. “The electricity produced from it could be added to the national power grid.” Dr Elahi stressed on digging more wells in the existing gas fields of the country. “We need fresh assessment of our gas fields. This will beget a scope of finding more gas. We have past examples of finding more gas after re-assessment.” He informed that to mitigate the existing crisis of gas, more explorations are planned. “The government has also taken multiple plans for LNG import.” Surgey Tumanov, managing director of Gazprom EP International BV, Amzad Hossain, former managing director of Bapex, Kazi Matin Uddin Ahmed, Chairman of Geology department of Dhaka University and SM Maqsud Kamal, president of the DU Teachers Association were present at the seminar among others.        
Category: Gas
BGFCL earns net profit before tax Tk 392 crore in FY 2016-17
February 10, 2018 Saturday 5:01 PM By News Desk, energynewsbd.com
The 62nd annual general meeting of Bangladesh Gas Fields Company Limited (BGFCL) held on February 09, 2018 at Head office in Brahmanbaria. Nazimuddin Chowdhury, Chairman of BGFCL Board and Secretary of Energy and Mineral Resources Division presided over the meeting, said a press release. BGFCL is the largest state-owned natural gas producing company. The company has an important role to meet-up the country`s energy needs by producing natural gas and processing its by-product condensate into diesel and petrol. After the independence of Bangladesh through the liberation war, the great architect of independence, the father of the nation Bangabandhu Sheikh Mujibur Rahman purchased five gas fields of the then Shell Oil Company namely Titas, Habiganj, Bakhrabad, Rashidpur and Kailashtila at a minimal cost and brought them under state ownership on August 09, 1975. Afterwards, the then Shell Oil Company was renamed as Bangladesh Gas Fields Company Limited (BGFCL) on September 12, 1975. Out of these 5 gas fields, 3 fields: Titas, Habiganj and Bakhrabad and subsequently entrusted another 3 gas fields: Narsingdi, Meghna and Kamta are being operated by BGFCL. BGFCL produces approximately 850 million cubic feet gas daily while total gas production of the country is approximately 2740 million cubic feet per day. It is about 31% of country’s total gas production and about 78% of the production of state-owned companies. Gas is being produced from the 42 wells of 5 fields out of 52 wells of BGFCL’s 6 fields. In the year 2016-2017, the company has produced a total of 301,323.293 million cubic feet of gas at an average daily production of 825.543 million cubic feet. Besides, 28,289,120 liters or 177,919 bbls of condensate also was produced with the gas as by-product. This condensate and some other condensate purchased from SGFL, BAPEX and Tullow, an IOC company, is being fractionated through fractionation plants of Titas and Bakhrabad fields. Fractionated products, MS (Petrol) and HSD (Diesel) are regularly being supplied to national oil companies for marketing. Total recoverable gas reserve in 6 fields of the company is about 12,252,000 million cubic feet, out of that 7,728,392.895 million cubic feet or about 63.08 percent gas has been extracted till June 30, 2017.  During the financial year 2016-2017, company`s gross revenue income stands at Tk. 3,729.24 crore and earned a pre-tax profit of Tk. 392.78 crore. The company has paid TK. 3,225.17 crore to the national exchequer in the form of SD and VAT, DSL, dividend and AIT at source in this year. Considering its’ financial contribution to the national exchequer, National Board of Revenue (NBR) has rewarded BGFCL for third time as the highest value added tax payer company of the country for the financial years 2015-2016. In this fiscal year, the company has carried out various development projects on ADB, Government of Bangladesh and JICA financing for drilling of new wells, workover/recompletion of existing wells and installation of compressors. Under these projects, drilling of one well at Bakhrabad field, drilling of four nos. appraisal cum development wells at Titas Field and workover of six wells have been completed and the company has able to add 92 MMCF of gas in the national grid. Besides, 3 booster compressors has been installed at Bakhrabad gas field in order to continue uninterrupted gas supply from this field. At present, projects for workover of seven nos. wells at different fields and installation of compressor at Titas location ‘C’ and Narsindi gas field and at Titas location-A is in progress. Chairman of BGFCL Board remarked that, being associated with the goal of the present government to have a developed Bangladesh, we must work hard and have to face all the challenges with courage and skill. It is expected that the company can enormously contribute to the national development if it becomes self-reliant and financially solvent equipped with proper training and technology. He thanked company’s officers and employees for their relentless efforts and hard work for the company. He also expressed the hope that shareholders, the Board of Directors, Ministry of Power, Energy and Mineral Resources, Ministry of Finance, Ministry of Planning, National Board of Revenue, Petrobangla, Gas Transmission and Distribution Companies, foreign donors and other concerned organizations will continue their assistance and cordial support to uphold company`s challenges and success in future.     
Category: Gas
New gas reserve found in Bhola
January 16, 2018 Tuesday 10:58 AM By BSS
State-owned Bangladesh Petroleum Exploration Company (Bapex) has discovered a new reserve of a significant amount of natural gas in Bhola, a district of the country`s southern region. The new gas reserve, which is found in Bheduria union of Bhola district, is estimated to have 600 billion cubic feet (bcf) natural gas. "With this reservoir, the total gas reserve in Bhola now stands at 1.5 trillion cubic feet (tcf)", Cabinet Secretary Shafiul Alam told a press briefing following the weekly meeting of the cabinet held at Prime Minister`s Office (PMO) with Prime Minister Sheikh Hasina in the chair on Monday. The Cabinet Secretary said Bapex hoped getting more gas in the district, with carrying out more exploration work there. According to Petrobangla, the country has 26 gas fields with remaining reserve of 13.60 tcf as of January 2016. The new gas field in Bhola will be the country`s 27th gas reserve.
Category: Gas
Summit Power International awards 15-year contract to PSA Marine for an LNG Terminal
January 5, 2018 Friday 6:40 PM By News Desk, energynewsbd.com
Summit Power International Pte. Ltd, Singapore, on Friday announced that its subsidiary, Summit LNG Terminal Co. (Pvt) Limited has awarded a 15-year contract to PSA Marine Bangladesh Pte. Ltd, a subsidiary of PSA Marine (Pte) Ltd. Under the contract, PSA Marine Bangladesh will provide berthing, mooring, pilot and personnel transfer services to LNG ships calling at Summit LNG FSRU terminal, with its three escort tugboats, one fast crew boat and one offshore supply vessel, said a press release. The award of this contract marks a significant milestone for PSA Marine and commencement of a long-term partnership with SPI. Together with Summit LNG, PSA Marine Bangladesh targets to commence operations in early 2019. Peter Chew, Managing Director of PSA Marine said, “We have an excellent track record of providing towage services to LNG terminals, be it at the Singapore LNG terminal in Jurong Island or the Oman LNG terminal at Sur. We are honored to work alongside Summit Power International and this win is a vote of confidence for our standing and capability as the preferred marine services partner for LNG terminals.” Muhammed Aziz Khan, Chairman of SPI said, “Summit is the largest physical infrastructure company in Bangladesh generating 1,500 MW of electricity, 1,000 MW under construction and 2,400 MW under development. Bangladesh requires 15 million tons of LNG and Summit will provide infrastructure for that. For our first project of LNG, we are pleased to bring on board PSA Marine, a pre-eminent marine services provider, to support our venture to develop region’s fast growing LNG market. Summit Power has an excellent track record in working with world leading corporations to deliver the high standard projects and PSA Marine’s best-in-class services are a natural fit with our operational philosophy.” In 2017, Summit LNG has received a concession from Petrobangla, Bangladesh’s state-owned company, to develop a floating LNG terminal facility comprising of a storage and regasification unit connected to shore by a six-kilometre subsea pipeline, on a build, own, operate, transfer basis in Moheskhali, Cox’s Bazar to supply approximately 500 million cubic feet per day of natural gas to the national grid. This project is part of SPI’s US$ 1 billion investment programme to deliver 1,000 MW of power and gas in Bangladesh.
Category: Gas
No gas in Dhamrai, Manikganj for 10 hrs on Monday
December 18, 2017 Monday 11:13 AM By UNB
Gas supply across a vast area of Dhamrai of Dhaka and Manikganj will remain off for 10 hours on Monday due to tie-in installation between existing gas pipelines and newly installed pipelines crossing Kaliganga river. According to a press release of the Titas Gas Transmission and Distribution Company Ltd, which is responsible for gas supply in greater Dhaka, the gas supply will be suspended from Bathuli of Dhamrai to Tepra DRS area of Manikganj, district town, Shibalaya, Aricha and adjacent areas of the district from 10:00 am to 8:00 pm. The supply will disrupt all kinds of consumers including household, commercial, industrial and CNG refueling stations in these areas.
Category: Gas
Summit signs $100m deal with consortium for LNG terminal
November 26, 2017 Sunday 10:59 AM By News Desk, energynewsbd.com
Summit LNG Terminal Ltd, a subsidiary of Summit Power International, signed a $100 million turnkey contract with a marine work contractor consortium recently. Under the contract signed, the consortium comprising of Geocean SAS and MacGregor will undertake a project for laying design, engineering, procurement, fabrication, installation and testing of the Fixed Infrastructure (FI) for its proposed Floating LNG Storage and Regasification Terminal (FSRT) at Moheskhali, Cox`s Bazar, said a press release. The project is to be completed in 16th month from day of signing the contract, according to a statement of the company issued on Tuesday. However, the statement did not say where and when the contract was signed. The FI will consist, among others, of Disconnectable Turret Mooring (DTM) plug for FSRU (floating storage and regasification unit) vessel system with anchors (suction piles), flexible riser with floatation and tether system, control and hydraulic umbilical, PLEM, Stern Mooring System (SMS) of FSRU vessel offshore pipelines and landfall works. In August 2017, Summit had signed Time Charter Party (TCP) agreement with Excelerate Energy for securing FSRU vessel. Summit Power International is a Singapore incorporated leading infrastructure developer and operator in South Asia. It comprises a group of businesses which develop, own and operate power generating assets and FSRU. Geocean, subsidiary of Entrepose Group, performs turnkey offshore projects under EPCI-type contracts in the oil and gas, mining, chemical industries as well as on the public works market. It builds coastal structural works for power stations, desalination plants, water treatment plants and offshore fields. MacGregor shapes the offshore and marine industries by offering world-leading engineering solutions and services with a strong portfolio of MacGregor, Hatlapa, Porsgrunn, Pusnes and Triplex brands.
Category: Power
Chevron not winding up business in Bangladesh
October 26, 2017 Thursday 9:54 PM By News Desk, energynewsbd.com
State Minister for Power, Energy and Mineral Resources Nasrul Hamid on Thursday said US oil major Chevron is not leaving Bangladesh; rather, it will invest $400 million in the country’s gas sector. While addressing a contract signing ceremony for procuring 200 megawatt (MW) solar electricity at the Bidyut Bhaban in Dhaka, he said Chevron has officially communicated its decision to the government to this end, according to a report of UNB. He said the Chevron`s planned $400 million will be invested in setting up a wellhead gas compressor at Bibiyana gas field to increase the gas pressure to the supply line. Chevron`s three gas fields -- Bibiyana, Jalabad and Moulvibazar -- share 52 percent of the total 2700 mmcf gas now being produced by the country`s 22 gas fields. In September last year, the Chevron Corporation announced its plan to sell out its assets of the three gas fields in Bangladesh. Following the announcement, Bangladesh expressed its desire to buy the assets. But on April 24, 2017, Chevron further announced that it entered into an agreement to sell the shares of its wholly-owned indirect subsidiaries operating in Bangladesh to a Chinese consortium named Himalaya Energy Co Ltd. Following the announcement, Bangladesh got very frustrated and continued its efforts to block the Chevron-Himalayan deal. The state minister said the new decision of Chevron for investing money in the gas field will boost the confidence of other foreign companies to continue their businesses in Bangladesh. He said many foreign companies are now showing their immense interest to invest in Bangladesh as its demand for energy is growing fast for the growing economy.
Category: Gas
Bapex discovers 700bn cubic feet of new gas reserve in Bhola
October 24, 2017 Tuesday 12:43 AM By News Desk, energynewsbd.com
Amid the growing energy crisis, Bapex has discovered a new gas reserve of around 700 billion cubic feet near Shahbazpur in Bhola, raising the overall gas reserve of the area to around one trillion cubic feet. "There’s good news for the country as Bapex has found initially estimated some 700 billion cubic feet of gas reserve in Bhola. If the new gas reserve is added to the previous ones, the total gas reserve of that area will reach around one trillion cubic feet," said Cabinet Secretary Mohammad Shafiul Alam. The Cabinet Secretary said this while briefing reporters at Bangladesh Secretariat on Monday after the Cabinet meeting held at the Prime Minister`s Office with Prime Minister Sheikh Hasina in the chair, according to a report of UNB. He said the news on the new gas reserve was revealed at the cabinet meeting.
Category: Gas
Petrobangla inks MoU with Gunvor for LNG supply
September 19, 2017 Tuesday 10:23 PM By News Desk, energynewsbd.com
Petrobangla, the state-run oil, gas and mineral resources corporation, on Tuesday signed another non-binding memorandum of understanding (MoU) with trading agency Gunvor Singapore Pte Ltd to procure liquefied natural gas (LNG). The MoU was signed at a function at Petro Center in Dhaka. Petrobangla Secretary Syed Ashfaquzzaman and Speeleveled, Head of LNG-BD Asia of Gunvor Singapore PTE Ltd, signed the MoU on behalf of their respective sides. With this, Petrobangla tied up with five companies to facilitate LNG imports. Bangladesh signed its first MoU to import LNG with Qatar in 2011, then this year did MoUs with Switzerland-based AOT Energy on June 13, Oman Trading International of Oman in early September and Pertamina of Indonesia on September 15. About the MoU, State Minister for Power, Energy and Mineral Resources Nasrul Hamid, who was present at the signing ceremony as the chief guest, said the government would ensure energy security by supplying primary fuel continuously. "Mixed gas will be supplied to the industries by mixing LNG with natural gas that would lead to slight price hike but would be more profitable for the businessmen," he said. He said the gas crisis in the country would be reduced from April next year. Besides long-term agreements with different state-owned enterprises, the government would also explore spot markets and invite tenders for mid-to-long-term contracts to import LNG. Petrobangla and Gunvor will prepare document for commercial agreement later. Besides, 41 companies expressed their interest for LNG purchase from spot market and the Masters Sales Procurement Agreements (MSPA) would be signed after preparing the panel, said Nasrul. He said in the first phase, 500 mmcfd LNG will be used in Chittagong region from April 2018, while 500 mmcfd LNG would be supplied for the middle part of the country from October 2018 in the second phase. Petrobangla now supplies approximately 2,750 million cubic feet per day against a demand for more than 3,700 mmcfd gas leading to interruption on power generation and industrial productions. Among others, Secretary of Energy and Mineral Resources Division Nazimuddin Chowdhury and Petrobangla chairman Abul Mansur Md Fayzullah spoke at the function.
Category: Gas
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Deal with Qatar likely this month to import LNG
Deal signed with Swiss firm to get LNG supply
Bangladesh signs MoU on Energy Cooperation with Russia
Gas price hike from June 1 as SC stays HC order
Chevron to sell Bangladesh gas fields to Chinese consortium
Petrobangla, Summit Group sign deal for 2nd LNG terminal
RPGCL to build land-based LNG terminal at Moheshkhali
Petrobangla mulls to multiply Sangu’s platform commercial use
China-led AIIB approves $60 mln to finance Bangladesh gas project
Pre-paid metres for household gas consumers by May
Govt inks deal with Daewoo for deep sea block-12 exploration
‘Signing of deep sea exploration deal with Korean company POSCO DAEWOO March 14’
Marubeni keen to set up LNG terminal in Bangladesh
Gas price goes up again; to be effective in two phases
BERC to declare new gas price today
Bangladesh Shipping Corporation to get 2 LNG vessels
BGFCL holds 61st annual general meeting
Cabinet approves PSC for block-12 at deep sea
Drilling starts at Magnama structure
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