A Memorandum of Understanding (MoU) was signed on Tuesday between Bangladesh and Malaysia for the supply of Liquefied Natural Gas (LNG) to Bangladesh.
According to a press release, the agreement was signed by Nasrul Hamid, state minister of the Ministry of Power, Energy, and Mineral Resources and Mustapa Mohamed, minister in the prime minister's department (Economy), Malaysia.
The ministers hoped signing of this MoU will augment existing bilateral trade, including paving the way for further commercial and economic engagement between the two nations.
Under this MoU, Petronas LNG and Global LNG of Malaysia and Bangladesh Oil, Gas and Mineral Corporation (Petrobangla) of Bangladesh are the designated entities in supplying the LNG.
Both sides are expected to sign a commercial contract soon, stipulating details of LNG supply under the guiding terms of the MoU.
Bangladesh High Commissioner to Malaysia, Md Golam Sarwar, and High Commissioner of Malaysia to Bangladesh, Haznah Md Hashim, delivered the welcome speeches during the event.
Chairman of Petrobangla, representatives of Petronas, and other high-level officials including members of the press of both countries were present during the event.