Bangladesh and Malaysia have signed a Memorandum of Understanding (MoU) on the supply of liquefied natural gas (LNG). The agreement was virtually signed on Tuesday (July 13).

The agreement was signed by Dato 'Shri Mostafa Mohammad, Minister of the Prime Minister's Office (Economy) on behalf of Malaysia and Nasrul Hamid, Minister of State for Power, Energy and Mineral Resources on behalf of Bangladesh.

According to the MoU, Petronas LNG Limited and Global LNG SDN BHD will be responsible for Malaysia and Bangladesh Oil, Gas and Minerals Corporation (Petrobangla) will be responsible for LNG supply for Bangladesh.

This information has been given in the press release of the Ministry of Power, Energy and Mineral Resources.

It said Bangladesh's Oil, Gas and Minerals Corporation (Petrobangla) and Malaysia's Petronas LNG Limited and Global LNG SDN would jointly finalize the terms of trade and take further action. In non-binding, the term of the MoU will be initially 2 years. The term can be extended with the consent of both parties.

The Minister of State for Power, Energy and Mineral Resources said the share of clean and green fuels in sustainable energy blends is steadily increasing. Renewable energy will also make a significant contribution to this energy mix.

Sunbd/NJ