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`Bangladesh closer to consensus on LNG export'

Our Bureau

CALCUTTA, Nov. 26

BANGLADESH is gradually moving towards a political consensus on exports of its hydrocarbon resources, particularly LNG, according to Mr Sudipto Mundle, principal advisor to Asian Development Bank's South Asia Regional Cooperation Programme Department (We st).

Giving this assessment, Mr Mundle said the business community in Bangladesh was convinced about the export potential. He was participating in a news conference here on the forthcoming private sector forum on South Asian sub-regional economic co-operation involving Bangladesh, Bhutan, India and Nepal.

Bangladesh is currently considering the setting up an internal LNG distribution grid at a cost of $175 million jointly with the ADB and private participation. The proposed grid could be made use of for regional co-operation, he felt.

Bangladesh was right in being cautious on exploiting its hydrocarbon reserves. The issue was politically-sensitive and therefore, a long-term, judicious economic decision was warranted. ``Bangladesh would not like to emulate Nigeria in frittering away it s reserves. After all, it is the most prized resource Bangladesh possesses,'' he said.

The ADB-supported two-day forum, to be held here from November 28, will deliberate, among other things, on cross-border co-operation in the hydrocarbon sector. Other broad areas of co-operation to be covered are tourism, a regional powergrid, logistics, trade and investments.

The involvement of Bangladesh was crucial in working out a framework for cooperation in the four-nation sub-region, the ADB official felt. The ADB was already involved in various infrastructure projects in the region. He felt building a connectivity amon g individual infrastructure modules _ be it on roadlinks, ports, inland water transport or energy _ could brighten up growth prospects.

Apart from the participation of the four countries, the forum will have delegations from Texaco Power and Gasification, CLI Corporation, Ogden Energy System (Asia Pacific), US Hydro-power Council for International Development and USAID. The Indian Chambe r of Commerce is the organiser of the conference jointly with chambers in Bangladesh, Bhutan and Nepal.