MUSCAT: Oman’s OQ Trading International has proposed building a floating storage and regasification unit (FSRU) in Bangladesh, seeking to strengthen its role as a reliable energy partner in South Asia as the country’s domestic gas output declines.
The proposal, submitted to state-run Petrobangla under a build-own-operate-transfer (BOOT) model, would provide capacity of around 3.75 million tonnes per year, The Financial Express (Bangladesh) reported on August 31. Petrobangla Chairman Md Reznur Rahman told the paper the proposal is under review.
Bangladesh currently operates two FSRUs that are near saturation, regasifying about 1,050 million cubic feet per day (mmcfd) against combined capacity of 1,100 mmcfd, according to the Dhaka-based daily. Domestic production has slipped to about 1,800 mmcfd, levels last seen in 2008–09.
The development comes as Dhaka signed its first short-term LNG supply deal with OQ Trading last month. The agreement covers 17 cargoes between August 2025 and December 2026, priced against the Japan Korea Marker (JKM) with a $0.15/MMBtu premium, offering an alternative to Brent-linked contracts in the country’s long-term portfolio.
Since its first LNG delivery to Bangladesh in 2019, OQ Trading has supplied 125 cargoes totalling 7.8 million tonnes, making it one of Dhaka’s most trusted partners.
For Oman, the proposed Moheshkhali FSRU reinforces OQ’s global strategy and aligns with Oman Vision 2040 by expanding energy infrastructure investments abroad and deepening the Sultanate of Oman’s position in Asian energy markets.
Oman Observer is now on the WhatsApp channel. Click here
