In order to increase the capacity of gas and fuel import, processing, and storage, an ‘Oil and Gas Terminal’ is expected to be constructed in the Bay Terminal area under the Chittagong Port Authority. The decision came from a meeting regarding the construction of the terminal in the meeting room of the Ministry of Shipping in Dhaka on 14 September with State Minister for Shipping Khalid Mahmud Chowdhury in the chair.
Khalid Mahmud said the government is positive about the construction of the Oil and Gas Terminal. “Considering the overall economy of the country, this terminal should be constructed quickly. Other ports will also get benefit if it is built,” he added.
He directed the chairman of Chittagong Port to take immediate action for the construction of the terminal.
Shipping Secretary Md Mustafa Kamal, Chittagong Port Authority Chairman Rear Admiral Mohammad Sohail, Payra Port Authority Chairman Rear Admiral Golam Sadeq and Mongla Port Authority Chairman Rear Admiral Mir Ershad Ali and others attended the meeting. East Coast Holdings Limited (ECHL), a strategic asset management company under the umbrella of East Coast Group, has expressed interest in building the terminal. A memorandum of understanding (MoU) was signed between the Chittagong Port Authority and the East Coast Group for the establishment of an ‘Oil and Gas Terminal’ in the Chittagong Port area to encourage foreign and domestic investments.
