MOHESHKHALI, Cox's Bazar, Jan 20, 2023 (BSS) - Single Point Mooring (SPM), having a double pipeline facility, will play an effective role in ensuring sustainable fuel management and reducing management costs.
"The installation work of the project is about to complete. We expect that commercial activities of the SPM will start from the middle of the year," State Minister for Power Energy and Mineral Resources Nasrul Hamid said while visiting the project site on Thursday. Seema Hamid, a social worker and wife of Nasrul Hamid, accompanied the state minister during the visit.
He said Bangladesh and China are implementing the SPM pipeline project under the Government to Government (G to G) method, which will carry crude and refined oil at low cost, quickly and safely.
Nasrul Hamid "Once the project is implemented, it would reduce oil pilferage and time for fuel oil supply across the country and save at least Tk 800 crore annually."
He said that the government installed the SPM along with a 220-kilometre double pipeline, and constructed six storage tanks at Moheshkhali. The storage tanks will take the oil reserve capacity of Bangladesh to a new height.
"The Awami League government led by Prime Minister Sheikh Hasina has instructed to install SPM to unload imported crude oil from the deep sea in a more efficient and time-saving manner. The SPM will also ensure energy security in the country," Nasrul Hamid added.
According to the project details, the SPM project was taken up in November 2015 and will be completed by June 2023.
The state minister said the main objectives of the project are to ensure the unloading of imported crude oil and finished products with ease, low cost and in a short, time, to reduce the system loss in the import of crude and finished products through lighterage operation, keeping a balance between the growing demand of energy and its supply, enhancing the petroleum oil retention capacity through setting up of six diesel and crude oil storage tanks at Moheshkhali and increasing energy supply security.
