Last year, Omera Petroleum Limited (OPL) has inked up to set Liquefied Petroleum Gas (LPG) Import Terminal and Reforming Process Unit at Mirersorai of Chittagong by signing a MoU with Bangladesh Economic Zone Authority (BEZA).
According to the MoU, Omera will lease 200 acres of land to set up an LPG Import Terminal and Reforming Process Unit.
‘It is willing to invest 1,300 crore BDT to materialize this project’ says Omera Officials.
It has started its journey in the petroleum market with their LPG cylinder gas since the last April of 2015 to meet the growing demand of LPG in the country.
It has already planned to reform the process by setting up an LPG import terminal at the country’s one of the newest planned Economic zone.
Sources informed that this project will create around 5,000 employment opportunities.
OPL is a subsidiary of lubricant supplier MJL Bangladesh. Its mother plant is in Mongla and three other satellite stations are in Bogra, Ghorashal, and Chittagong respectively.
It has introduced three types of LPG cylinders – 5.5-kg, 12-kg and 35-kg in the market.
Earlier it imports LPG from Vietnam and Malaysia, and its yearly LPG filling capacity was 100,000 tonnes.
It has already a separate LPG cylinder factory, where it can yearly produce 500,000 cylinders with European standards and technology.
The cumulative growth of LPG in Bangladesh is around 12 per cent in the last couple of years.
Existing players in local LPG market are – Bashundhara, Jamuna Spacetech, French TotalGaz, Srilankan Laugfs Gas and Australian Kleenheat or Petredec Elpiji.
Last year, the total LPG consumption in Bangladesh was 350,000 tonnes.
LPG consumption in Bangladesh is very negligible compared to most of other Asian countries.
In Bangladesh, only 2% population has access to LPG. Urban households, industries, and automobiles largely depend on natural gas.
Though the fast-depleting gas reserves of the country are looking for alternatives such as LPG.