Questions BIDA chairman’s signing of deal with Argent LNG
The Centre for Policy Dialogue, an influential Dhaka-based think tank, on Wednesday said signing deals to import LNG (liquefied natural gas) does not align with the interim government’s policy position. Report UNB
“If I think from the point of view of the interim government, then this LNG deal actually does not go with their stance,” said Helen Mashiyat Preoty, Senior Research Associate at CPD.
Preoty was referring to the non-binding agreement signed by the government with a new US firm, Argent LNG, to purchase up to 5 million metric tonnes of LNG annually.
Argent LNG is developing a 25 million metric tonnes per annum (MTPA) LNG facility in Louisiana. It hopes to start deliveries in 2030.
Bangladesh Investment Development Authority (BIDA) Executive Chairman Chowdhury Ashik Mahmud Bin Harun, better known as Ashik Chowdhury, signed the deal on behalf of Bangladesh side – raising further questions over its propriety. Preoty did not let it slide.
“There is question whether BIDA chairman could sign this kind of deal, this is the first time we came to know that BIDA chairman signed this kind of deal,” she said.
Nevertheless, it was touted as the first major US LNG supply deal since President Donald Trump took office for a second term last January, in a statement issued by Argent.
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Preoty was taking questions Wednesday at a CPD programme to release its latest Independent Review of Bangladesh’s Development, titles ‘State of the Bangladesh Economy in FY2024-25: Navigating Expectations in Turbulent Times’, held at its office in Dhanmondi.
Preoty, meanwhile, also said that Bangladesh has stopped making payments against its LNG import bills from Qatar and Oman.
“And yet, we are signing another deal for importing LNG again,” she added.
Preoty also mentioned that BAPEX is failing to act on nine drilling work orders due to a fund crunch, further reinforcing her portrayal of the government as broke.
She reiterated that CPD thinks that there is no need to sign any short or long term deal for importing LNG for the country.
