BANGLADESH'S GAS DEMAND UP

PLATTS - Bangladesh's natural gas demand projection for fiscal year ending June 2019 has been revised up 8.5% to 1.35 Tcf on rising LNG imports, state-owned Petrobangla's general manager for production and marketing Anwarul Islam said Wednesday.

The company's previous gas demand projection for fiscal 2018-19 was 1.24 Tcf.

The power sector will account for 657 Bcf, followed by industry (253 Bcf), manufacturing (152 Bcf), households (133 Bcf), fertilizer sector (98 Bcf), CNG filling stations (41 Bcf), commercial sector (9 Bcf) and others (2 Bcf).

Bangladesh's LNG imports are expected to hit 10 million mt/year by 2023, according to S&P Global Platts Analytics. Its first LNG import facility started commercial operations in August, while the second FSRU, owned by Summit Group, is expected to come online by April 2019.

Bangladesh has also been trying to ramp up domestic natural gas production, but growth has remained stagnant at around 970 Bcf/year.

"We are carrying out a number of drilling programs in different onshore fields to increase overall natural gas output," A.K.M Ruhul Islam Chowdhury, managing director of Bangladesh Petroleum Exploration and Production Company Ltd., said.

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Earlier:

2018, October, 26, 12:25:00 OMAN'S LNG FOR BANGLADESH PLATTS - Bangladesh is expecting first lean LNG imports from Oman Trading International from May 2019, as part of a sales and purchase agreement signed in May 2018 for 1 million mt/year of LNG over 10 years, managing director with state-owned Rupantorita Praktritik Gas Company Md Quamruzzaman said

2018, October, 22, 11:25:00 BANGLADESH LNG STOPPED PLATTS - Bangladesh has terminated talks with Indian utility Reliance Power to build a new floating storage and regasification unit for LNG imports at Kutubdia Island near Chattogram port, a senior official at the LNG Cell said Thursday.

2018, September, 10, 12:25:00 BANGLADESH LNG ENERGY: $3 BLN PLATTS - Germany's Siemens AG and Bangladesh's state-run North-West Power Generation Company Ltd Friday signed a joint development agreement to develop a 3,600 MW power plant at Payra in southern Bangladesh that will run on regasified LNG.

2018, June, 4, 13:05:00 BANGLADESH LNG UP EIA - In April 2018, Bangladesh became the newest country to begin imports of liquefied natural gas (LNG). In the next two years, six more countries—Panama, Gibraltar, Russia, Philippines, Ghana, and Bahrain—are expected to start importing LNG, adding a combined 2.1 billion cubic feet per day (Bcf/d) of new regasification import capacity.

2017, September, 27, 13:30:00 QATAR - BANGLADESH LNG RasGas Company Limited sealed a landmark 15-yr LNG Sales and Purchase Agreement (SPA) with Bangladesh Oil, Gas and Mineral Corporation (Petrobangla). The agreement was signed in Doha by Mr. Hamad Mubarak Al-Muhannadi, CEO of RasGas, and Mr. Abdul Mansur Md Faizullah, Petrobangla Chairman.

2017, April, 21, 20:30:00 BANGLADESH'S LNG TERMINAL State-owned Petrobangla has inked final deals with Summit LNG Terminal Co., a subsidiary of the Summit Group, to development Bangladesh's second floating LNG terminal.