For the project to help expand access to clean energy in Bangladesh, International Finance Corporation or IFC will provide $10.8 million in equity investment and Excelerate\u2019s equity will amount to $43.1 million.<\/p>\n
IFC and Excelerate Energy, which will implement the project on Maheshkhali Island in Cox’s Bazar, signed the agreement on Tuesday.<\/p>\n
Energy Adviser to the PM Tawfiq-e-Elahi Chowdhury and State Minister for Power and Energy Nasrul Hamid attended the signing ceremony held at a Dhaka hotel.<\/p>\n
As the lead arranger for the project, IFC has raised a debt financing package of $125.7 million, including IFC\u2019s loan of $32.8 million, $25 million from CDC, $15 million from DEG, $20 million from FMO and the rest from JICA.<\/p>\n
In July 2016, Bangladesh signed a deal with Excelerate to construct a 500mmcfd floating LNG (liquefied natural gas) terminal.
\nDescribing the LNG terminal as a ‘milestone’, PM’s Energy Adviser Chowdhury said the government will provide all cooperation for the project.<\/p>\n
Speaking at the ceremony, State Minister Hamid said that one of the major challenges for ensuring energy security was efficient manpower.<\/p>\n
The LNG terminal will enable Petrobangla, the state-owned energy company, to increase natural gas supply by up to 20 percent, sufficient to support up to 3,000 MW of power generation capacity, Excelerate said in a statement on its website.<\/p>\n
The construction of the terminal will commence in the fourth quarter of 2017 and is expected to be in service by mid-2018.<\/p>\n","protected":false},"excerpt":{"rendered":"
A deal securing about $179.5 million for financing Bangladesh’s first LNG project has been signed. For the project to help expand access to clean energy in Bangladesh, International Finance Corporation or IFC will provide $10.8 million in equity investment and Excelerate\u2019s equity will amount to $43.1 million. IFC and Excelerate Energy, which will implement the<\/p>\n","protected":false},"author":1,"featured_media":4059,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14],"tags":[405],"class_list":{"0":"post-4058","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-national","8":"tag-million-dollar-deal-is-signed-for-bangladesh-first-lng"},"acf":[],"_links":{"self":[{"href":"https:\/\/bartabangla.com\/english\/wp-json\/wp\/v2\/posts\/4058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bartabangla.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bartabangla.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bartabangla.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bartabangla.com\/english\/wp-json\/wp\/v2\/comments?post=4058"}],"version-history":[{"count":0,"href":"https:\/\/bartabangla.com\/english\/wp-json\/wp\/v2\/posts\/4058\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bartabangla.com\/english\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/bartabangla.com\/english\/wp-json\/wp\/v2\/media?parent=4058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bartabangla.com\/english\/wp-json\/wp\/v2\/categories?post=4058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bartabangla.com\/english\/wp-json\/wp\/v2\/tags?post=4058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}