H-Energy signs MoU with Petrobangla

H-Energy signed the Memorandum of Understanding (MoU) with Bangladesh-based company Petrobangla. Both companies will soon finalise a long-term supply deal to commence the supply of re-gasified LNG to Bangladesh through a cross border natural gas pipeline.

H-Energy was authorised by Petroleum and Natural gas Regulatory Board (PNGRB), the regulatory body in India, to build own and operate Kanai Chhata-Shrirampur natural gas pipeline connecting H-Energy’s LNG terminal in West Bengal passing through various regions of the state and further connecting to the Bangladesh border.

It is the only company to have been authorised by PNGRB to lay a pipeline till Bangladesh border.

Darshan Hiranandani, CEO of H-Energy said “This is a key milestone in the future of Indo Bangladesh energy cooperation. I am grateful to the Government of Bangladesh, the team at Petrobangla and the various governmental agencies of India whose unstinted support has made this happen. Our objective is to deliver environmentally friendly, safe, and economical energy to the state of West Bengal and to Western Bangladesh.”

H-Energy’s wholly-owned subsidiary HE Marketing private will be responsible for sourcing LNG and for supplying R-LNG to Petrobangla. Within Bangladesh Petrobangla will supply this re-gasified LNG to gas based power producers and other gas consumers.