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Discussion underway on possibility of supplying LNG from Russia

UNB . Dhaka
08 Sep 2023 09:57:54 | Update: 09 Sep 2023 02:26:04
Discussion underway on possibility of supplying LNG from Russia
Russian Foreign Minister Sergey Lavrov speaks in a press conference at a hotel in Dhaka on September 7, 2023 — AFP Photo

Russian Foreign Minister Sergey Lavrov has said relevant agencies are discussing the possibility of supplying LNG (liquefied natural gas) to Bangladesh.

“They are also discussing the possibility of supply of wheat and fertilisers," he said.

"We appreciate the fact that despite pressure exerted on Bangladesh by the US and its allies, our Bangladeshi friends are guided exclusively by their national interest," Lavrov told reporters on Thursday night after his meeting with Foreign Minister AK Abdul Momen.

In an hour-long meeting followed by another hour of working dinner, the two sides covered all bilateral and regional issues, including the Rohingya and Ukraine crises.

"Russia will continue to supply Bangladesh with food grains and energy. We also agreed on a road map to work towards duty-free access of Bangladeshi exports," said State Minister for Foreign Affairs Md Shahriar Alam.

The Russian foreign minister said they will consider changing the modalities of work such as instead of discussing trade annually, the two countries will make it a permanent avenue of operation.

Lavrov spoke about the Rohingya crisis and said that they support Bangladesh's ongoing conversations with Myanmar. He said they support continuous negotiations between Bangladesh and Myanmar in finding the solutions.

"We believe that outside actors should limit themselves to simply creating favourable conditions for a mutually acceptable solution. This is exactly what the Russian Federation is doing in its context with Myanmar and will continue doing so," he said.

However, the Russian foreign minister said certain outside players use these issues to exert pressure on one of the parties and to interfere in its domestic affairs. "I believe that this is both counterproductive and unacceptable."

Lavrov said they have agreed to increase and strengthen trade and investment relations with Bangladesh.

Describing Bangladesh as a good and long-standing partner in South Asia, he said they are intensifying their bilateral contact with Bangladesh.

The Russian foreign minister also talked about the flagship project – Rooppur Nuclear Power Plant and laid emphasis on its implementation in a consistent manner.

"We are very delighted as the Russian foreign minister is visiting Bangladesh for the first time. We have deep relations with Russia," said Foreign Minister Momen.

He said they discussed the Rohingya issue, trade and investment and greater market access to Russia. "We don't want war. We want all issues get resolved through dialogue and discussion."

Momen mentioned the role that Russia played when Bangladesh was in the process of gaining independence, such as the support provided by the Soviet Union in 1971 to the popular struggle and political and economic assistance to the newly formed state.

"Since then, our relations have consistently been based on the principles of equality, mutual respect, and consideration of each other's interests," said the Russian foreign minister. "I am positive that our talks will reaffirm this trend and further strengthen it."

Lavrov said they would work with their partners in the region in order to prevent any attempt to establish dictate.

Trend and investment

In recent years, bilateral trade has consistently exceeded $2 billion. Staple Russian exports include industrial equipment, metals, mineral fertiliser, and wheat.

The primary imports to Russia consist mainly of clothing and seafood. In 2022, due to the adverse international situation, the trade fell by 21.4 per cent to $2.35 billion.

Measures to overcome this negative trend will be discussed by the Intergovernmental Russian-Bangladeshi Commission on Trade, Economic, and Scientific-Technical Cooperation.

The commission’s first meeting was held in Moscow on October 24, 2018, the second in Dhaka on November 14, 2019, and the third and fourth took place via videoconference on December 15, 2021, and March 15, 2023, respectively.

The construction of Bangladesh's first nuclear power plant is the flagship project of bilateral partnership. Its commissioning in 2024-2025 will come as a breakthrough in Bangladesh's energy sector, the Russian side said.

At the same time, Russia's involvement in its construction ensures long-term work for over 100 industrial companies in Russia.

Russian expertise in traditional energy is highly sought after in Bangladesh.

A Gazprom subsidiary, Gazprom International Ltd, has been successfully operating in that country. From 2012 to 2023, it drilled and completed 20 gas field wells in Bangladesh on a turnkey basis.

Russian Foreign Minister Sergey Lavrov arrived in Dhaka on Thursday evening on a two-day working visit which is seen as an important step amid changed global scenario. This is the first visit to Bangladesh by any Russian foreign minister since independence.

Lavrov will meet Prime Minister Sheikh Hasina on Friday morning. He will visit the Bangabandhu Memorial Museum at Dhanmondi before departure on Friday.

The Russian foreign minister will attend the G20 Summit in New Delhi on September 9-10 after completing his visit to Bangladesh.

Lavrov was scheduled to visit Bangladesh on November 23 last year, mainly to attend the 22nd IORA Council of Ministers meeting, held in Dhaka on November 24. But the visit was called off at the last minute.

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