DHAKA, Nov 09, 2023 (BSS) - Prime Minister's energy advisor Dr Tawfiq-e-Elahi Chowdhury, Bir Bikram, has said that with the well-organized and the united efforts of all, it is only a matter of time to address the global challenges of energy sector.

"In the last three years, Bangladesh had to spend an additional 14 billion US dollars in the energy sector alone, to meet the global challenges. The current government under the dynamic leadership of Prime Minister Sheikh Hasina has given extra importance to energy diversification to meet future challenges," he said while addressing as the chief guest a ceremony marking signing of a contract between PetroBangla and 'Excelerate Energy' yesterday (Wednesday), said a release.

The contract signing ceremony was held at a hotel in the city. The parties signed the contract for long-term LNG sales and purchases, to import MTPA LNG for a period of 15 years, it added.

Mentioning that Bangladesh is getting energy cooperation from the United States, Dr Tawfiq hoped that the cooperation and friendship between the two countries will grow further and continue in future.

While speaking as the special guest at the event, Power, Energy and Mineral Resources State Minister Nasrul Hamid said, "The progress of Bangladesh's power and energy sector in the last 15 years is remarkable. Power and energy department has shown enviable success in every aspect of carrying out annual work or implementing annual development programs."

"While access to quality and uninterrupted power at affordable price is a challenge today, under the leadership of Prime Minister Sheikh Hasina, electricity has reached every household... The government is dedicated to building a Smart Bangladesh by 2041 with development," Nasrul said, according to the release.

"There will be huge investment opportunities in the power and energy sector and deep sea exploration, because there will be massive changes in technology. Some of the world's renowned companies have expressed great interest in joining Bangladesh to explore the potentialities," he added.

During the ceremony, it was mentioned that as per the contract, EGMLP will supply LNG from January, 2026. As a result of the expansion of MLNG Terminal, the re-gasification capacity of MLNG Terminal will increase from 500 to 600 mmcfd from January 2024.

To meet the growing energy demand of the country, gas supply to the national gas grid first started in August-2018 through LNG import and re-gasification, the release added.

US Ambassador to Bangladesh Peter D Haas and Petrobangla Chairman Janendra Nath Sarkar also spoke at the event with Energy and Mineral Resources Department Secretary M Nurul Alam in the chair.