December 5, 2024, 12:48 am

Excelerate Energy keen to invest more in Bangladesh’s energy sector

Staff Reporter
Published: Wednesday, October 16, 2024

Excelerate Energy’s President and CEO, Steven Kobos, stated on Tuesday that American corporations have expressed a strong interest in Bangladesh.

He added that his company intends to invest more in the country’s energy sector and decarbonization.

The CEO stated that the company intends to grow up and assure a steady supply of Liquefied Natural Gas to the country.

Kobos, also the chairman of the US-Bangladesh corporate Council, praised the Chief Adviser for taking over leadership of the Interim Government, saying it will boost corporate confidence in Bangladesh.

“There has been a lot of interest in Bangladesh from American companies since you took over,” Kobos said.

He adding that some of the top US companies, including members of the US-Bangladesh Business Council, were excited about business prospects in the South Asian country.

Excelerate currently has investment in two offshore Floating Storage and Regasification Units in Bangladesh, which supply 1.1 billion cubic feet.

This accounts for some 34 percent of the country’s daily gas supply.

Prof Yunus welcomed more US investment in Bangladesh, saying his government has taken steps to attract foreign direct investment and improve the business climate in the country.

“You have come at the right time here,” Prof Yunus told Kobos and his business delegation.

During his recent visit to the US, the Chief Adviser spoke at an event of the US-Bangladesh Business Council, inviting all its 50 members including some of the top American multinational firms, to invest in Bangladesh.


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