Unocal Corp. last week disclosed it has proposed an energy project to the government of Bangladesh that could involve development of gas resources and construction of a gas fired power plant.
As a first step, Unocal signed an agreement for a joint technical study with state owned Petrobangla to delineate Shahbazpur gas field in southern Bangladesh on the Bay of Bengal.
Unocal's proposal calls for a multiphase, integrated project.
The first phase, bearing a price tag of $250 million, would include delineation and development of Shahbazpur gas field to produce 30 MMcfd and construction of a 40 km gas transmission line to Barisal and a 150,000 kw power generating plant. Start-up could occur in 1999 if technical, contractual, and financial details are resolved.
John G. Vandermeer, president of Unocal Asia-Pacific Ventures Ltd., Singapore, called the proposal "an exciting project that links a known natural gas resource with a ready, growing market."
From Barisal, electricity from the proposed power plant could tie into the Bangladesh grid. The plant in the first phase could be expanded to 300,000 kw, depending upon Unocal's power sales contract that would be negotiated.
Petrobangla found Shahbazpur field in 1995. At that time, it estimated the field could contain about 400 bcf of recoverable gas.
The second and third phases of the proposed project would include a fertilizer plant and a cement plant. These additional projects that use gas would hinge on available gas resources and results of further feasibility studies. n
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