Chevron Joins Forces with Bapex to Boost Bangladesh's Gas Supplies
Gas supplies in Bangladesh are expected to improve significantly from today as the country's LNG (Liquefied Natural Gas) supply is set to rise following a technical fault that disrupted ship-to-ship transfer in July. The issue was finally fixed, and the FSRU (Floating Storage Regasification Unit) operated by Excelerate Energy in Maheshkhali has resumed partial operations.
The energy ministry officials said that the LNG supply stood at 764 million cubic feet per day (mmcfd) as of 4 pm yesterday. However, it is expected to rise to 950-1,000 mmcfd from today. This will provide some relief to industries struggling with gas shortages.
Chevron has agreed to drill new wells in a joint venture with state-run Bapex, marking a shift from its earlier position when the US energy company denied undertaking such joint-venture drilling with Bapex.