Since the inauguration of the Friendship Pipeline last year, 42,000 tons of diesel with a total value of $34 million (INR 282 crore) have been exported to Bangladesh from India.
Indian High Commissioner Pranay Verma made the comment while inaugurating the Liaison Office of Numaligarh Refinery Limited (NRL) in Dhaka on Monday.
Managing Director of the company Bhaskar Jyoti Phukan and Managing Director of Meghna Petroleum Ltd Md Tipu Sultan was also present.
The Friendship Pipeline Project, which was jointly inaugurated by the prime ministers of India and Bangladesh virtually on March 18, 2023, is the first cross-border pipeline for the supply of petroleum products to Bangladesh.
This pipeline has a capacity to transport One Million Metric Tonnes Per Annum (MMTPA) of High-Speed Diesel and has been completed at a total estimated cost of over INR 375 crore, of which, over INR 285 crore has been spent for construction of the Bangladesh portion of the pipeline under a Government of India grant.
With the completion of the pipeline, cross-border supply of High-Speed Diesel is being done faster and more economically with a minimal carbon footprint putting in place a sustainable, reliable and cost-effective way of transporting High-Speed Diesel to Bangladesh.
The high commissioner was happy to note that the Bangladesh Petroleum Corporation (BPC) has taken ownership of the pipeline and is now operating the pipeline with the last four consignments of High-Speed Diesel through the pipeline having been managed by them independently.
He said that with the inauguration of the liaison office, NRL would be able to more effectively explore such collaborations with the Bangladesh authorities in the future for supply petroleum products.
He said the collaboration in the power and energy sector has become one of the hallmarks of an all-encompassing relationship between Dhaka and New Delhi and the Friendship Pipeline is a testament to the growing partnership in this important sector.
The high commissioner said that India and Bangladesh have made unprecedented progress in advancing relations between our two countries in the last decade.
One of the key manifestations of that transformation, he said, is the growth in bilateral trade and economic engagement and connectivity links.
