State Minister for Power, Energy and Mineral Resources Nasrul Hamid claimed that US companies offered more investments in Bangladesh because they have confidence in the Awami League government.
He came up with remarks at a bilateral discussion with US-Bangladesh Business Council representatives at the Secretariat in the capital on Wednesday.
The minister said, “The US top companies have invested in Bangladesh. Many companies want to invest in partnerships. We gave a presentation in a meeting with them during a visit to Washington DC last May. There we said that $75 billion investment is needed in the power sector in the next 15 years. Then US companies showed interest in investing in our power sector.”
80 per cent of Bangladesh's power and energy sector trade is with US companies. American company Chevron supplies 45 per cent of the gas. LNG is also imported through US company Excelerate Energy, he informed.
This company will set up another Floating Storage Regasification Unit (FSRU) at Payra Port as part of ensuring uninterrupted gas supply from 2026 onwards. The company will construct the pipeline alongside FSRU, he added.
The US energy conglomerate Exxon Mobil has given a letter for oil and gas exploration in the deep sea.
Following our conversation, they have presented a second set of proposals. The revisions made to the Production Sharing Contract (PSC) have unlocked significant potential in deep-sea ventures. As a result, the ongoing multi-client survey and the upcoming influx of 2D survey data are expected to amplify interest, he furthered.
Representatives from Chevron Bangladesh, Exxon Mobil, General Electric, HSBC, Master Card, Standard Chartered, Visa, Boeing, Meta, MetLife, Uber, Blackstone and other companies attended the meeting.
