Oil pipeline with India will play vital role in ensuring fuel security: Hasina

Prime Minister Sheikh Hasina said on Saturday that her countrys first crossborder oil pipeline with India will play a vital role in ensuring fuel security in Bangladesh at a time when the world was facing a serious energy crisis due to the Ukraine warHasina said this while virtually inaugurating with her Indian counterpart Narendra Modi the 1315km BangladeshIndia Friendship Pipeline on SaturdayTerming India a true friend of Bangladesh Hasina said she wanted this friendship to remain intactThe pipeline costing Rs 377 crore is part of energy sector cooperation between the two neighbouring countries through which Bangladesh will import petroleum especially diesel from IndiaWhen many countries across the world are on the verge of a fuel crisis due to the RussiaUkraine war at that time this pipeline will play a vital role in ensuring the fuel security of our people Hasina saidThe friendship pipeline is a milestone achievement in cooperation for the development between the two friendly countries she said Apart from ensuring fuel security the pipeline will increase the economic growth she saidHasina said the time and expenditure for importing diesel from India will be reduced significantly by this pipeline We have settled all our bilateral problems one by one We are getting cooperation for our development from India she was quoted as saying by the staterun United News of Bangladesh Were importing 1160MW of power from India Some more regional and bilateral initiatives in the power sector are under implementation Our cooperation to this end will be deeprooted in the days to come she addedWe will work jointly in the national and international arena The historic and geographical bond will further consolidate the relations between Bangladesh and India she saidHasina also invited Indian investors to invest in her country Modi also spoke at the event joining from his officeHe said the pipeline will start a new chapter in IndiaBangladesh relationsAlso read Dhaka building explosion Sufficient expertise to carry out probe says HMThe pipeline will aid faster development of Bangladesh and will be an excellent example of increasing connectivity between the two countries he saidThe pipeline will run from the Siliguribased marketing terminal of the Numaligarh Refinery Limited NRL to the Parbatipur depot of Bangladesh Petroleum Corporation BPCAccording to the deal India will send 200000 tonnes of oil annually in the first three years 300000 tonnes per annum in the next three years 500000 tonnes annually in the next four years and 1 million tonnes annually afterwards bdnews24com reportedThe pipeline with India will cut the transportation cost of fuel oil for Bangladesh by 50 per cent State Minister for Power Energy and Mineral Resources Nasrul Hamid said earlierThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever