Prime Minister Narendra Modi and Bangladesh Prime Minister Sheikh Hasina on Saturday jointly inaugurated the India-Bangladesh Friendship Pipeline (IBFP) from Siliguri (India) to Parbatipur (Bangladesh) through video conferencing. , Photo Credit: ANI

Prime Minister Sheikh Hasina has said that her country’s first cross-border oil pipeline with India would play a key role in ensuring fuel security in Bangladesh at a time when the world was facing a severe energy crisis due to the Ukraine war.

Ms Hasina said this while virtually inaugurating the 131.5 km long Bangladesh-India Friendship Pipeline with her Indian counterpart Narendra Modi on March 19.

Describing India as a “true friend” of Bangladesh, Ms. Hasina said she wanted this friendship to continue.

The Rs 377-crore pipeline is part of energy cooperation between the two neighboring countries, through which Bangladesh will import petroleum, especially diesel, from India.

“When many countries around the world are on the brink of fuel crisis due to the Russia-Ukraine war, this pipeline will play an important role in ensuring the fuel security of our people,” Ms. Hasina said.

“The friendly pipeline is a milestone achievement in cooperation for development between the two friendly countries,” he said.

“Apart from ensuring fuel security, the pipeline will enhance economic development,” she said.

Ms. Hasina said that this 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,” the official newspaper quoted him as saying. united news of bangladesh,

“We are importing 1160 MW of power from India. Some more regional and bilateral initiatives in the power sector are being implemented. Our cooperation in this direction will deepen in the days to come,” he said.

“We will work jointly in the national and international arena. Historical and geographical bonds will further strengthen ties between Bangladesh and India.”

Ms. Hasina invited Indian investors to invest in her country. Mr. Modi also spoke at the event to be joined by his office.

He said the pipeline would open a new chapter in India-Bangladesh relations. “This pipeline will help in the rapid development of Bangladesh and will be an excellent example of enhancing connectivity between the two countries,” he said.

The pipeline will run from the marketing terminal of Numaligarh Refinery Limited (NRL) in Siliguri to the Parbatipur depot of Bangladesh Petroleum Corporation (BPC).

As per the deal, India will send 200,000 tonnes of oil annually in the first three years, 300,000 tonnes annually in the next three years, 500,000 tonnes annually in the next four years and one million tonnes annually thereafter, bdnews24.com reported.

Minister of State for Power, Energy and Mineral Resources Nasrul Hamid had earlier said that the pipeline with India would reduce the transportation cost of fuel oil to Bangladesh by 50%.