Bangladesh said it will take a final decision on exporting natural gas to India by November 15 even as US oil major UNOCAL on Wednesday announced a 1.2 billion dollar pipeline project to transport the natural resource to New Delhi. We will take decision by November 15 whether natural gas would be sold or not, Bangladesh state minister for energy and mineral resources Khondakar Mohsaraf Hossain told the private Ekushey TV.
Earlier, commerce minister Amir Khasru Chowdhury told a meeting of Foreign Investor' Chambers of Commerce and Industry that Bangladesh would allow export of natural gas to India if it made economic sense.
UNOCAL, which has already submitted a proposal to the government to export gas through a pipeline, on Wednesday said in a statement that the project would entail construction of a 30-inch diameter pipeline with an initial capacity of 500 million cubic feet per day, covering 1,363 km from the Bibiyana gas field in northeast Bangladesh to New Delhi. The oil giant said its proposal was based on sound market, technical and economic studies and the export would help the country garner revenue to the tune of 3.7 billion dollars over next 20 years and 500 to 700 million dollars in immediate foreign direct investment.
Bureau Report