Bangladesh’s New Sea-Land Oil System Boosts Efficiency and Economy

Last Updated on March 27, 2024 11:42 am

In a significant stride towards modernizing its energy infrastructure, Bangladesh has inaugurated its pioneering sea-land oil storage and transportation system. The initiative, heralded as a game-changer in the nation’s energy sector, promises enhanced efficiency and substantial economic benefits.

Initiated in 2019 and recently brought to fruition in November 2023, the project has garnered attention for its innovative approach to oil logistics. Facilitated by a collaborative effort involving financing from the Chinese government, the Export-Import Bank of China, and support from China Petroleum Pipeline Engineering Co., Ltd., the venture represents a strategic partnership between Bangladesh and China.

One of the standout features of the new system is its remarkable reduction in oil unloading and transportation duration. Previously, the process took a staggering 11 days for a 100,000-ton oil tanker. Now, with the implementation of this cutting-edge infrastructure, the time has been slashed to a mere 48 hours. This dramatic improvement not only streamlines operations but also translates into substantial cost savings, estimated at USD 128 million annually for crude oil transportation.

Sharif Hasnat, deputy general manager of Eastern Refinery Limited, lauded the project for its transformative impact on the oil unloading system. Emphasizing its role in bolstering efficiency while concurrently reducing costs, Hasnat underscored the project’s modern and environmentally sustainable design.

San Bijun, the esteemed project manager, highlighted the broader implications of the initiative within the context of the Belt and Road Initiative (BRI). By seamlessly integrating Bangladesh into the larger framework of regional connectivity, the project not only addresses the country’s existing energy deficit but also positions itself as a pivotal energy conduit for the nation’s future development.

Beyond its infrastructural advancements, the project has also been instrumental in generating employment opportunities. Reports indicate that approximately 4,000 individuals have been gainfully employed through various facets of the initiative, underscoring its socio-economic significance.

As Bangladesh embarks on this transformative journey in its energy landscape, the sea-land oil storage and transportation system stand as a testament to the power of international collaboration and innovation in driving sustainable development and prosperity.

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