DHAKA, July 9, 2026 (BSS) – The government has sought fresh overseas proposals for Floating Storage Regasification Unit (FSRU) as it has planned to build the first terminal under Government to Government method (G2G) at Maheshkhali aiming at meeting the country’s rising demand for imported liquefied natural gas (LNG).

“The government has sought proposals from different overseas state-owned companies for building its first FSRU under G2G arrangement to meet country’s growing LNG demand,” Petrobangla Chairman Abdul Mannan told BSS here today

Earlier, proposals were sought for the terminal under G2G method and SOCAR (State Oil Company of the Azerbaijan) sent a proposal for the FSRU terminal. A Memorandum of Understanding (MoU) was signed with the interim government (November 7, 2025).

According to the MoU, the company expressed interest to make a deal with Bangladesh for five- to fifteen-year for supplying 0.5 million to 1.5 million tonnes of LNG per year with competitive international prices.

Recently, Azerbaijan conveyed its interest to work with the current government for the terminal.
Bangladesh started importing LNG in 2018 due to the dwindling reserves of domestic gas fields and increasing demand. 

There are now two FSRUs in the country under private operators - one by Summit Group and the other by US Company Excelerate Energy. The two terminals have a maximum capacity of around 1,100 mmcfd (million cubic feet per day). 

According to Petrobangla, domestic gas fields had a capacity of producing about 2,800 mmcfd of gas, but now it has dropped to 1,627 mmcfd. The government is now supplying around 2,700 mmcfd against the demand of 3,800 mmcfd. The government is trying to minimize the shortfall through importing LNG from overseas sources. 

According to an energy expert, it will take at least 24 months to set up a floating LNG terminal.