Excelerate Energy plans more investment in Bangladesh’s energy sector: CEO tells CA Yunus
Excelerate currently has investment in two offshore Floating Storage and Regasification Units in Bangladesh, which supply 1.1 billion cubic feet, accounting for some 34% of the country's daily gas supply
United States-based Excelerate Energy which works with energy infrastructure to deliver reliable energy solutions, plans to invest more in Bangladesh's energy sector, its Chief Executive Officer Steven Kobos told Chief Adviser
It also plans to invest in decarbonisation projects in Bangladesh, Kobos told Yunus during a meeting at the State Guest House Jamuna in Dhaka, reads a press statement issued today (15 October)
The company wants to scale up and ensure a smooth supply of Liquefied Natural Gas to the country, he said.
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Excelerate Energy currently has investments in two offshore Floating Storage and Regasification Units in Bangladesh, which supply 1.1 billion cubic feet, accounting for some 34% of the country's daily gas supply.
"There has been a lot of interest in Bangladesh from American companies since you took over," Kobos told the CA at the meeting.
"Some of the top US companies, including members of the US-Bangladesh Business Council, were excited about business prospects in the South Asian country," he added.
Kobos, also the chairman of the US-Bangladesh Business Council, hailed the chief adviser for assuming the leadership of the government, saying it will increase business confidence in Bangladesh.
Meanwhile, Professor Muhammad Yunus welcomed more US investment in Bangladesh, saying his government has taken steps to attract foreign direct investment and improve the business climate in the country.
"You have come at the right time here," Professor Yunus told Kobos and his business delegation.
During his recent visit to the US, the CA spoke at an event of the US-Bangladesh Business Council, inviting all its 50 members including some of the top American multinational firms, to invest in Bangladesh.
In the meeting, Steven Kobos was accompanied by high officials of Excelerate Energy, including Peter Haas, former US ambassador to Bangladesh who recently joined Excelerate Energy as its Strategic Advisor, Derek Wong and Ramon Wangdi, vice presidents of the company, and Habib Bhuiyan, the country manager.
Lamiya Morshed, senior secretary and the head of SDG Affairs, Ashik Chowdhury, chairman of Bangladesh Investment Development Authority (BIDA) and Saiful Islam, energy secretary, were also present during the meeting.
