Friday, July 3, 2020

Regional coop for sustainable dev in energy sector stressed

BSS, Dhaka :
State Minister for Power, Energy and Mineral Resources Nasrul Hamid laid emphasis on regional cooperation to ensure sustainable development of the global energy sector.
"Infrastructure development of energy market, availability of alternative technology, transfer of modern technology will keep an effective contribution to resolving future energy crisis," he made the comments on Tuesday while attending a function on a joint venture agreement through video conference from his residence.
The joint venture agreement was signed with Indian Oil Corporation and R R Holding Ltd.
Chairman of Indian Oil Corporation Sanjib Singh and Executive Director of R R Holding Ltd Tarique Alam signed the deal virtually on behalf of their respective sides.
Among others, Indian Minister for Petroleum and Natural Gas and Steel Dharmendra Pradhan, Prime Minister's private industries and investment affairs advisor Salman F Rahman, MP, energy secretary Md Anisur Rahman and Indian High Commissioner to Bangladesh Riva Ganguly also witnessed the signing ceremony.
The state minister said the Public-Private Partnership agreement is the milestone initiative in energy sector, which would contribute to development of energy market.
He said the LPG demand in Bangladesh is also increasing day by day, which would stand at 80 lakh metric tons in 2041.
According to the contract, the Joint Venture Agreement between Bangladesh and India will help to export LPG, Lubricants, Petrochemicals and LNG in the northern states of India through constructing pipelines.
The agreement will also contribute expansion of LNG and lubricants business and create diversity and transfer of technology. It will ensure sustainable energy systems through establishment of research and development facilities in Bangladesh.