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Deal signed with Swiss firm to get LNG supply

State-owned Petrobangla on Tuesday signed a memorandum of understanding (MoU) with Switzerland-based AOT Energy to receive supply of LNG (liquefied natural gas).

As per the initial deal, both sides will start negotiation to settle the issues on quantity of LNG supply to Bangladesh.

AOT officials said they have been pursuing the Bangladesh government to sign a medium-term contract to supply bulk quantity of LNG from their different supply channels to Bangladesh.

They said Bangladesh`s energy requirement is on the rise following increased manufacturing base. "So in the coming days, Bangladesh will need huge LNG supply to feed its industries," said James O`Brien, head of the AOT.

The government has so far signed a number of contracts with foreign companies to set up floating storage and regasification unit (FSRU) with LNG terminals and also signed a deal to have LNG supply from Qatar.

After Qatar, this has been the 2nd such deal to get LNG supply from abroad, said Petrobangla officials. Addressing the MoU signing ceremony at Westin Hotel in the city, Energy Division Secretary Nazimuddin Chowdhury said the government has been making its best effort to resolve the gas crisis.

Such MoU has been part of such efforts through which the country`s gas crisis will come to an end, he added. Petrobangla Chairman Abul Monsur Md Faizullah expressed the hope to make a good deal with AOT to ensure LNG supply to the country.

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