US keen on investing in Bangladesh’s LNG storage and regasification sectors
The United States is interested in investing in floating LNG terminals, or Floating Storage and Regasification Unit (FSRU) projects, in Bangladesh.
US Ambassador to Bangladesh Brent T Christensen has stressed the importance of ensuring a transparent and competitive environment for implementing such projects.
The ambassador expressed the interest during a meeting with Commerce, Industry, and Textiles and Jute Minister Khandaker Abdul Muktadir at the FBCCI (Federation of Bangladesh Chambers of Commerce and Industry) office in Motijheel, Dhaka, on Monday.
Industry Secretary Abdun Naser Khan, Commerce Ministry Joint Secretary Md Mustafizur Rahman and US Embassy Economic Chief Angelo Palazzello were also present at the meeting. The Commerce Ministry disclosed the information in a press release issued after the meeting.
According to the release, referring to the FSRU project, the US ambassador said maintaining a transparent and competitive environment for major infrastructure projects would further boost foreign investors’ confidence.
He said US companies were highly interested in working in Bangladesh and stressed the importance of giving them an opportunity to compete on an open and equal footing.
In response, Commerce Minister Khandaker Abdul Muktadir said proposals from US companies would be given the highest priority if they could implement FSRU projects quickly and demonstrate their capacity to ensure supply.
If they could offer an effective supply plan within a shorter timeframe, their position in the competition would be further strengthened, he added.
The release further said the commerce minister supported increasing US investment in Bangladesh, ensuring transparency in major infrastructure projects and making the business environment more conducive to investment.
The meeting also discussed expanding bilateral trade, partnership in the energy sector and recent policy reforms.
Bangladesh has decided to import a total of 117 LNG cargoes, or shiploads of LNG, from the United States over 13 years, from 2026 to 2038.
US Ambassador Brent T Christensen described the agreement with international LNG supplier Gunvor USA LLC as a positive step towards energy cooperation.
According to the release, the commerce minister also raised with the ambassador the government’s decision to scrap the previous requirement for foreign companies to appoint local agents when purchasing strategic equipment.
He said the move had restored transparency to the procurement process by creating opportunities to deal directly with manufacturers and had curbed the influence of middlemen. The government was working with the protection of national interests as its highest priority in every case, he said.
The US ambassador praised several positive changes in the new import policy. However, he said some provisions of the policy could be made more business-friendly.
In response, the commerce minister said the import policy was an ongoing process. Necessary reforms were being reviewed regularly to ensure that the policy remained aligned with market conditions and economic realities.