US-based ‘Excelerate Energy’ plans to increase its investment in Bangladesh’s energy sector and support de-carbonization efforts, according to its CEO and President, Steven Kobos. The company aims to enhance and ensure a stable supply of liquefied natural gas (LNG) to the country. Kobos made these remarks during a meeting with Chief Adviser Professor Muhammad Yunus at the state guest house Jamuna in Dhaka.
Excelerate Energy currently operates two offshore floating storage and regasification units in Bangladesh, which supply 1.1 billion cubic feet of gas, accounting for about 34% of the country’s daily gas needs.
Kobos, who is also the chairman of the US-Bangladesh Business Council, praised Yunus for assuming leadership of the interim government, expressing that it would boost business confidence in Bangladesh. He highlighted growing interest from American companies, including US-Bangladesh Business Council members, in expanding business opportunities in the country.
The chief adviser welcomed increased US investment and emphasized that his government is working to improve the investment climate and attract more foreign direct investment. Yunus also invited Kobos and other top US companies to explore investment opportunities in Bangladesh during a recent visit to the US.
Kobos was joined by Excelerate Energy officials, including Peter Haas, the company’s strategic advisor and former US ambassador to Bangladesh, as well as senior executives Derek Wong, Ramon Wangdi, and Habib Bhuiyan. High-ranking Bangladeshi officials, including Lamiya Morshed and Ashik Chowdhury, were also present at the meeting.
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