January 28, 2018 / 10:03 AM / 25 days ago

Bangladesh signs deal with Indonesia for LNG imports

DHAKA, Jan 28 (Reuters) - Bangladesh signed an agreement with Indonesia on Sunday to import liquefied natural gas (LNG), as the South Asian country turns to the supercooled fuel to fill a shortfall of domestic natural gas.

A letter of intent was signed between two state energy companies, Petrobangla and Pertamina, after a meeting between Prime Minister Sheikh Hasina and Indonesian President Joko Widodo, who arrived in Dhaka on Saturday.

Bangladesh, a country of more than 160 million people, may import as much as 17.5 million tonnes of LNG a year by 2025, as its domestic gas reserves dwindle and demand grows.

Petrobangla is finalising several floating storage and regasification units, the first of which is expected to commence operations in April 2018.

In September, Bangladesh signed its first ever LNG import deal with Qatar, underscoring the rise of South Asia as a new market for the fuel.

Reporting by Ruma Paul; Editing by Stephen Coates

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