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Petrobangla, AOT Energy sign MoU for LNG procurement

Staff Correspondent |
Update: 2017-06-13 11:38:16 AM
Petrobangla, AOT Energy sign MoU for LNG procurement
Head of LNG of AOT Energy James O’Brian and secretary of Petrobangla Syed Ashrafuzzaman sign a MoU on behalf of their respective organizations at Hotel Westin in Dhaka

DHAKA: The state-run Petrobangla and Switzerland-based the AOT Energy Group have signed a ‘Memorandum of Understanding (MoU)’ for procurement of Liquefied Natural Gas (LNG).

The MoU was signed at a function at Hotel Westin at Gulshan in the capital city on Tuesday (June 13).

LNG Global Head of AOT Energy James O’Brian and secretary of Petrobangla Syed Ashrafuzzaman signed the MoU on behalf of their respective organizations.

Energy secretary Nazimuddin Chowdhury, Petrobangla chairman Abul Mansur Md Faizullah, AOT Energy’s head of corporate affairs Martin Fasser and political, economic and cultural affairs head of the Embassy of Switzerland in Bangladesh Christoph Fuchs spoke on the occasion.  

Addressing the occasion, James O’Brian lauded Bangladesh for a high-growth economy and said they are committed for stable LNG supplies to contribute to the process of growth.

He termed the signing of the MoU as a milestone that both the parties have reached through a process of negotiation.

Energy secretary Nazimuddin Chowdhury, the deal might contribute a lot to the ongoing process of development of Bangladesh.

Petrobangla chairman Abul Mansur Md Faizullah expected a high quality service from the AOT regarding energy security in Bangladesh. 

Christoph Fuchs said, the signing will intensify the collaboration between Bangladesh and Swizerland.

Mr Aziz Ahmad, a US-based Bangladeshi businessman, played vital role in this negotiation. He was also present to witness the signing ceremony. 

Later he told banglanews that this MoU will help Bangladesh to ensure a regular and unintarupted service of LNG in the development projects.     
The AOT Energy has been developing and promoting the use of LNG in Bangladesh for several years.

The Swiss company played a key role in development and implementation of the first LNG Floating Storage and Degasification Unit (FSRU terminal).  

By partnering with the AOT Energy, Petrobangla is working with a supplier who can provide unique and beneficial commercial solutions for LNG procurement to Bangladesh.

BDST: 2130 HRS, JUNE 13, 2017

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