India to offset China with oil pipeline to Bangladesh

India to offset China with oil pipeline to Bangladesh

India will begin exporting diesel to neighboring Bangladesh via a new pipeline this month. On March 18, Prime Minister Narendra Modi and his Bangladeshi counterpart Sheikh Hasina will inaugurate the cross-border oil pipeline. With the start of this project, Bangladesh’s reliance on China for petroleum will be greatly reduced. Bangladesh Foreign Minister A. Of. According to Abdul Momen, Prime Minister Sheikh Hasina and her Indian counterpart Narendra Modi will jointly inaugurate the first cross-border oil pipeline transporting diesel to Bangladesh on March 18.

‘The good news is that India will send us diesel, the pipeline is complete,’ he said on Thursday. He stated that the pipeline would be inaugurated by both Prime Ministers via video conference on March 18. According to Bangladesh Petroleum Corporation (BPC) officials, India will export diesel via the 130-kilometer India-Bangladesh Friendship Pipeline (IBFPL), which was built at a cost of approximately Rs 3.46 billion over the Indian Line of Credit (LoC).

Pipeline in India extends up to 5 km

The pipeline runs 125 kilometers through Bangladesh and 5 kilometers through India. Previously, Bangladesh imported diesel from India via trains. India’s External Affairs Minister S. Jaishankar made Momen’s announcement last week on the sidelines of the G-20 Foreign Ministers’ meeting in New Delhi. This occurred a week after his conversation with Jaishankar. Momen stated that India held the Bangladesh delegation in high regard during the G-20 Foreign Ministers’ meeting, demonstrating the excellence of Dhaka-Delhi bilateral relations.

Bangladesh dependent on imports for fuel

Bangladesh is almost entirely reliant on imports of fuels such as diesel, gasoline, aviation fuel, kerosene, and other petroleum products. It currently imports a large amount of petroleum from China. Experts have also provided advice in this regard. He claims that China is not an oil producer. It imports oil from other petroleum-producing countries and then sells it to other countries after refining it. If Bangladesh imports fuel directly from petroleum-producing countries, the price will be lower than in China.

(The IBC NewsTV team may have changed the report’s headline and cover image; the remaining text was created automatically from a syndicated feed.)

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