Russia’s state-run energy major Gazprom says it wants to work jointly with Bangladesh’s state-run Bapex to explore gas.
The natural gas giant’s CEO Valeriy Gulev came up with a proposal on Thursday during a meeting with Prime Minister Sheikh Hasinan in Dhaka.
It says it is interested to start joint venture with Bapex to explore gas in the plain lands, hill tracts and offshore areas.
The company, 50.01 percent owned by the Russian state, also proposed joint venture gas exploration with Bapex in a third country as well, Hasina’s Press Secretary AKM Shamim Chowdhury told reporters.
According to its website, the company holds the world’s largest natural gas reserves and accounts for 14 percent of the global gas output.
Prime Minister Hasina has welcomed the proposal.
“A joint venture between Bapex and Gazprom can certainly take place,” Chowdhury quoted Hasina as telling the Russian delegation.
Although Gazprom does not have a gas field in Bangladesh, it has helped develop five wells and explore a further five over the past two years.
Chowdhury said the government decided to task the world’s largest gas exploration company with the development of two other gas wells.
Four foreign companies are producing gas from six of the 25 gas fields. Local companies are in charge of the rest.
State-owned Petrobangla has signed agreements with two Indian companies to explore and produce oil and gas from three shallow blocks in the Bay.
One more agreement is expected to be inked soon with a foreign company for another block.
Apart from them, Bangladesh entered into a similar contract with US-based Conoco Phillips over two blocks in the Bay.
The prime minister termed Russia a “time-tested friend” of Bangladesh.
Russia-Bangladesh relations began in 1971 when the erstwhile Soviet Union stood for the Bengalees struggle for freedom.
It assisted in the reconstruction of the war-ravaged economy.
During Hasina’s Moscow visit last year, deals were signed to set up a nuclear power plant.
The bilateral trade after Hasina’s visit touched $700 million last year.
Source: Bd news24
