Saudi Aramco plans to supply LNG to Bangladesh
Saudi Arabian national oil company Saudi Aramco plans to supply LNG to the Bangladesh's national power utility Bangladesh Power Development Board (BPDB), following the signature of a US$3bn tripartite agreement with ACWA Power to develop a 3,600 MW LNG-fired power plant and a related LNG terminal in the Moheshkhali area in Cox’s Bazar (southern Bangladesh).
The agreement would strengthen relations between Saudi Arabia and Bangladesh, which already imports 0.7 Mt/year of Arab Light crude oil from Saudi Aramco to supply its sole refinery. In addition, Bangladesh's LNG imports are expected to triple to at least 10 Mt/year over the next 3 to 4 years, making the country a major LNG importer in Asia. So far, the country has two floating storage and regasification units (FSRUs) with a total regasification capacity of around 7.5 Mt/year. Another 7.5 Mt/year onshore regasification project is planned in Cox's Bazar and is expected to be completed within 5 years (2024).
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