Commodities
Bangladesh Seeks LNG Terminal Boost Amid Acute Gas Shortage
The government of Bangladesh has moved to fast-track the installation of a new Floating Storage and Regasification Unit (FSRU) at Kutubjom in Maheshkhali, Cox's Bazar, due to an acute natural gas shortage caused by a recent fire at an existing LNG terminal.
The Cabinet Committee on Economic Affairs approved a proposal submitted by China's CNEE for the development of the Kutubjom FSRU under a government-to-government (G2G) arrangement.
Bangladesh currently relies heavily on imported liquefied natural gas to compensate for declining domestic gas production, with an estimated daily demand of 3,800 million cubic feet and supply falling short by around 1,100 MMCFD.