Bangladesh, Malaysia sign deal to cooperate on supply of Liquefied Natural Gas
Bangladesh and Malaysia today signed a Memorandum of Understanding (MoU) on cooperation in supply of Liquefied Natural Gas (LNG), which is expected to augment the existing bilateral trade to a new height.
Nasrul Hamid, state minister of the Ministry of Power, Energy & Mineral Resources of Bangladesh and Mustapa Mohamed, minister of Prime Minister's Department (Economy) Malaysia and signed the MoU.
Under this MoU, PETRONAS LNG Ltd and Global LNG Sdn Bhd of Malaysia and Bangladesh Oil, Gas and Mineral Corporation (PETROBANGLA) of Bangladesh are the designated entities in supplying the LNG.
Both sides are expected to sign a commercial contract soon, stipulating details of LNG supply under the guiding terms of the MoU.
During their speech, both ministers mentioned that signing this MoU has marked an important milestone in the bilateral relations between the two trusted friends in their long journey of 50 years of diplomatic relations.
They hoped that signing of this MoU will pave the way for further commercial and economic engagement between the two friendly nations.
Bangladesh High Commissioner to Malaysia Golam Sarwar and Malaysian High Commissioner to Bangladesh, Haznah Md Hashim, delivered the welcome speeches during the event.
Among others, Petrobangla Chairman, representatives of Petronas, Ministry of Power, Energy & Mineral Resources of Bangladesh and Economic Planning Unit of the Prime Minister's Department of Malaysia, and officers of the Ministry of Foreign Affairs as well as high commissions of both the countries were present during the signing.
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