Beximco Petroleum Limited recently purchased a LPG (Liquefied Petroleum Gas) carrier named BEXPETRO-1. The vessel, with a carrying capacity of 2700MT is expected to increase import and export activities of LPG in the country. Bangladesh is a huge consumer of LPG. The government provides LPG pipeline connection to households. The country previously depended heavily on natural gas for their power needs. But the alarming reserves of natural gas pushed the government to promote LPG as the alternative source of energy consumption.
Beximco’s Vice Chairman, Salman F Rahman is confident that the recent acquisition is going to boost both company’s vision of becoming one of the key players in petroleum and the country’s vision for a better Bangladesh. There are three major areas that the new purchase can bring growth in:
Meeting Skyrocketing Demand of LPG
The demand for LPG is skyrocketing. With a current capacity of 40000 MT/year to suffice a staggering demand of 15 Million MT/year, the BEXPETRO-1, with a carrying capacity of 2700 MT is expected to immensely raise the LPG capacity of the country. The vessel is expected to pave way for more efficient LPG supply chain.
Beximco’s Vice Chairman, Salman F Rahman is confident that the recent acquisition is going to boost both company’s vision of becoming one of the key players in petroleum and the country’s vision for a better Bangladesh. There are three major areas that the new purchase can bring growth in:
Meeting Skyrocketing Demand of LPG
The demand for LPG is skyrocketing. With a current capacity of 40000 MT/year to suffice a staggering demand of 15 Million MT/year, the BEXPETRO-1, with a carrying capacity of 2700 MT is expected to immensely raise the LPG capacity of the country. The vessel is expected to pave way for more efficient LPG supply chain.
Boosting Economy
As of now the cement and textile industries of the country consume the most amount of natural gas as they do require a voluminous amount. The shift to using more LPG by domestic households and other industries can greatly increase the capacity of production. Bangladesh generates an enormous amount of revenue through its textile and cement industry. The new development is expected to give leverage to the GDP of the economy.
Company Vision
Beximco Group was established in the early 1970s with a vision to expand and grow into every possible industry. Since its inception the company under Salman F Rahman’s effective leadership and vision, has grown much into establishing a strong presence in various industries ranging from textile to pharmaceuticals. The recent acquisition is expected to increase Beximco’s activities in the petroleum industry.
The BEXPETRO-1 will carry on frequent operations on international waters and is expected to deliver its first shipment in early December this year. With the hope that the vessel brings, there is much excitement amidst individuals and organizations in the country.
As of now the cement and textile industries of the country consume the most amount of natural gas as they do require a voluminous amount. The shift to using more LPG by domestic households and other industries can greatly increase the capacity of production. Bangladesh generates an enormous amount of revenue through its textile and cement industry. The new development is expected to give leverage to the GDP of the economy.
Company Vision
Beximco Group was established in the early 1970s with a vision to expand and grow into every possible industry. Since its inception the company under Salman F Rahman’s effective leadership and vision, has grown much into establishing a strong presence in various industries ranging from textile to pharmaceuticals. The recent acquisition is expected to increase Beximco’s activities in the petroleum industry.
The BEXPETRO-1 will carry on frequent operations on international waters and is expected to deliver its first shipment in early December this year. With the hope that the vessel brings, there is much excitement amidst individuals and organizations in the country.
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