Accelerate Energy suddenly became active in canceling the contract. This US company is operating an LNG terminal at Maheshkhali in Cox's Bazar. The previous government was going to commission another LNG terminal at Payara to the same company. The previous government's initiative has been scrapped as the interim government canceled the 'Electricity-Fuel Rapid Supply Enhancement Special Provision 2010'. The US company wants to repair the damage by improving relations with the current government.
This information is known from related sources.
According to sources, the previous Awami League government initiated the formalities of signing agreements with the domestic company Summit and the US company Accelerate Energy for the construction of two more floating LNG terminals. Among these, the government also signed an agreement with Summit LNG. This summit agreement was canceled on October 7. The contract for its construction was signed with Summit on March 30. The summit has already appealed to the government to reconsider this decision.
On the other hand, the previous government signed a term sheet with Accelerate Energy last November. Basically, what will be included in the agreement was mentioned in that term sheet. But Petrobangla officially informed Accelerate Energy about the cancellation of this contract last week to cancel the Special Powers Act.
Sources say the US company has hired former US ambassador Peter Haas as its adviser to maintain diplomatic relations with the government. Given Peter Haas's activities before the last general election and his subsequent relationship with the interim government in the United States, he is expected to play a key role in expanding Accelerate Energy's business.
Among them, representatives of Accelerate Energy on Tuesday (October 15) chief advisor Dr. Muhammad met with Yunus. In that meeting, the company's Chief Executive Officer (CEO) Steven Kobos told Prof. Yunus, “His company plans to invest more in Bangladesh's energy sector and carbon emission processes, increase the supply of liquefied natural gas (LNG) and keep it uninterrupted.” At the same time, he told Muhammad Yunus, “After the government of his leadership took over, the interest of US companies in Bangladesh has increased.”
Steven Kobos visited Bangladesh after canceling the contract with the US company Accelerate Energy. During this visit, he also met the Chairman of Petrobangla on Wednesday (October 16). His company advisor Peter Haas was also present there.
Petrobangla Chairman Janendranath Sarkar, however, said after the meeting that the government is interested in constructing the LNG terminal through competitive bidding. The US company has been asked to participate when the tender is called.
However, the government is emphasizing on construction of permanent terminal rather than construction of floating terminal. Both Maheshkhali and Payra are affected by cyclones in the Bay of Bengal in Bangladesh. Once hit by a cyclone, terminals take some time to get back into production. Summit's LNG terminal recently returned to production after at least four months of damage from the cyclone.
In this situation, Energy Advisor Muhammad Fawzul Kabir Khan said earlier that the government is interested in building a permanent terminal instead of a floating one.
Although the cost of constructing such a terminal on land is high, there is no problem of supply in case of cyclone or any other calamity.
