Bangladesh Pursues Rapid LNG Import from Neighboring Myanmar

Bangladesh is looking to quickly import liquefied natural gas (LNG) from Myanmar, its neighboring country, in an effort to alleviate a severe energy crisis. The proposal, which was recently discussed with Myanmar's ambassador in Bangladesh, would see LNG shipped within just 12 hours of the deal being finalized.

The current reliance on LNG imports from the United States, Australia, and Angola takes between 15 and 30 days, while gas supplies from Middle-Eastern countries take around six to seven days. However, due to ongoing conflicts in the region, QatarEnergy and OQ Trading have stopped supplying gas to Bangladesh since late February.

Myanmar has significant gas reserves, with around 40% of its own gas being used in various oil-and-gas-exploration projects implemented under partnerships with Chinese, Korean, Indian, and Thai energy companies. The minister for Power, Energy and Mineral Resources, Iqbal Hasan Mahmood, stated that 'If both countries agree and settle price negotiations, Bangladesh will be able to import LNG from Myanmar within 12 hours -- the shortest possible time to import the fuel.'

The proposed deal would see gas imported through a pipeline or as LNG. The minister added that this option was discussed during a meeting with Myanmar's ambassador in Bangladesh, Kyaw Soe Moe, and that 'Myanmar has around 40 per cent of gas of its own in various oil-and-gas-exploration projects being implemented under partnership with Chinese, Korean, Indian and Thai energy companies.'

The Bangladeshi government is prioritizing enhanced energy cooperation with Myanmar due to the current severe natural gas crisis. With industries, households, and other consumers crying out for gas amid a fuel crunch, importing LNG from Myanmar could further cut Bangladesh's dependence on the volatile spot market.