Saturday, November 25, 2017

Russia’s Gazprom wants to expand business in Bangladesh

  • Senior Correspondent,
    Published: 2017-04-16 13:38:35 BdST


Russian hydrocarbon giant Gazprom, now with a new office in Dhaka, wants to expand its presence in Bangladesh.

The public joint stock company’s Chairman Alexey Miller told Bangladesh Foreign Minister AH Mahmood Ali that their presence in Bangladesh does not match their global profile. 

He urged Bangladesh to explore “other commercial ties with Gazprom not only in exploration but also in production and distribution, LNG supply and terminal construction, pipeline laying and much else,” according to a foreign ministry statement.

 The foreign minister was visiting the headquarters of this large Russian company which is involved in extraction, production, transportation and sale of natural gas after his official bilateral talks in Moscow.

 He welcomed the interest shown by Gazprom and invited the company “to come and invest in Bangladesh in a bigger way”.

Gazprom had built 15 exploratory and development wells at seven fields in Bangladesh since 2013.

This year, it has signed contract with its Bangladesh partner Petrobangla to construct two prospecting and exploratory wells on a Bhola Island in southern Bangladesh.

Miller briefed Ali about Gazprom's mammoth operation, mostly in Europe and Asia, that generated an annual revenue of approximately $90 million.

He mentioned the importance of having an MOU with Bangladesh to expand their businesses further.

Bangladesh Energy Secretary Nazimuddin Chowdhury, accompanying the foreign minister, said they were working on that. “The draft proposed is at final stage of consideration and could be signed in future.”

Gazprom Managing Director Andrei Fick also briefed the foreign minister about the company – its recent successes, action plans and the readiness to expand its operation in Bangladesh.

Bangladesh and Russia have recently embarked on strengthening bilateral relations.

The two countries waived visas for diplomatic and official passport holders. They also signed an agreement on the establishment of intergovernmental commission on trade, economic, scientific and technical cooperation.

The foreign minister speaking with the Gazprom management said this instrument was a “landmark for advancing the ongoing discourses ahead”.