Half a dozen international firms are vying for a contract to construct a new floating storage and regasification unit (FSRU) at Moheshkhali island as Bangladesh opts for enhancing LNG-handling capacity amid falling domestic gas reserves against rising demand.
Sources say they have submitted proposals either to state-run Petrobangla, the Energy and Mineral Resources Division (EMRD) under the Ministry of Power, Energy and Mineral Resources, or both, in the hope of securing a new contract to develop the facility near the country's two existing FSRUs that treat the imported liquefied natural gas or LNG.
Oman's OQ Trading International, Saudi Arabia's Aramco Trading, Azerbaijan's Socar, US-based Excelerate Energy, and Russia's Novatek are among the global players interested in setting up the FSRU or related infrastructure used for degasifying imported LNG to feed into the national grid, according to market insiders.
"We have received proposals from a good number of international firms showing interest in developing a new FSRU," said a senior official.
He notes that the government may award the contract, considering the growing need for ramping up the LNG-regasification capacity in the wake of depleting domestic reserves.
The project could be awarded either through an international tender or via government-to-government negotiations, with emphasis on securing lower costs than those of previous projects, he adds.
