An earlier bid to export the gas to India had been struck down by a government which did not want the national asset to go beyond its borders, especially to its traditional adversary.
The project will cost an estimated US$292 million and will see Unocal supply 200 million cubic feet of gas per day to the National Gas Grid. Production is expected in two year’s time.
The US giant believes Bibiyana has around 6 trillion cubic feet of gas in place. The Bangladeshi government has a more conservative estimate: 2.4 trillion cubic feet.
