The pipeline costing 377 million rupees is part of the cooperation in the energy sector between the two neighboring countries through which Bangladesh will import oil, especially diesel from India.
Prime Minister Sheikh Hasina said her country’s first cross-border oil pipeline with India would play a vital role in ensuring fuel security in Bangladesh at a time when the world was facing a severe energy crisis due to the war in Ukraine. Hasina said this while literally inaugurating the 131.5 km long Bangladesh-India Friendship Oil Pipeline with her Indian counterpart Narendra Modi on Saturday.
Calling India a “true friend” of Bangladesh, Hasina said she wanted this friendship to remain intact. The pipeline costing 377 million rupees is part of the cooperation in the energy sector between the two neighboring countries through which Bangladesh will import oil, especially diesel from India.
When many countries around the world are on the brink of a fuel crisis due to the Russo-Ukraine war at the time, this pipeline will play a vital role in ensuring fuel security for our people, Hasina said.
“Friendship gas is a milestone in cooperation for the development of two friendly countries,” she said. “Besides ensuring fuel security, the pipeline will increase economic growth,” she said.
Hasina said that the pipeline will significantly reduce the time and cost of importing diesel from India. We have solved all our bilateral problems one by one… We are getting cooperation from India for our development,” she was quoted as saying by the state-run United News of Bangladesh.
“We are importing 1,160 MW of electricity from India. Some more regional and bilateral initiatives in the energy sector are in the implementation phase. Our cooperation to that end will be deeply rooted in the days to come,” she added.
We will work together on the national and international arena. The historical and geographical connection will further consolidate the relationship between Bangladesh and India,” she said.
Hasina also urged Indian investors to invest in her country. Modi also spoke at the event which he joined from his office. He said the pipeline would start a new chapter in India-Bangladesh relations. “The pipeline will help Bangladesh develop faster and will be a great example of increasing connectivity between the two countries,” he said.
The pipeline will run from the Numaligarh Refinery Limited (NRL) marketing terminal in Siliguri to the Bangladesh Petroleum Corporation (BPC) Parbatipur depot.
According to the agreement, India will send 200,000 tons of oil per year in the first three years, 300,000 tons per year in the next three years, 500,000 tons per year in the next four years and 1 million tons per year thereafter, bdnews24.com reports.
The pipeline with India will reduce the cost of transporting fuel oil to Bangladesh by 50 percent, Minister of State for Power, Energy and Mineral Resources Nasrul Hamid said earlier.