"It is expected that the three nations will very soon sign an MoU for an international consortium company which will build, own and operate the pipeline," K B Ahmed, managing director of Mohona Holding, which formulated the concept, said in Dhaka.
"It would not only benefit the country but also usher in new areas of regional cooperation," he said. "Myanmar has sent us letters agreeing to sell gas and India has agreed to buy it, with Bangladesh to decide on giving 'right of way' through its soil," Ahmed said.
Dhaka has decided to explore this plan within its framework of "greater energy and other regional cooperation," Ahmed said.
Explaining details of the project, he said there were two options for the pipeline, which would go through Bangladesh.
While the first option was for the pipeline to go through Paltwa and Aijwal in Mizoram through Tripura and after crossing into Bangladesh through Brahmanbaria and Jessore districts before entering the Indian state of West Bengal, the other envisaged a route through Bangladesh from Myanmar through Teknaf district along the coast and enter Bandgaon with other routes remaining unchanged.
The project would bring up to $600 million investment to Bangladesh, besides possible "wheeling charges" $100 million annually, cost of land and a subsidiary of state-run PetroBangla another $24 million annually for its services, he said.
Buyers are Gas Authority of India and West Bengal Industrial Development Corporation, he said. Ahmed said he saw no hurdles in implementing the project so far. "We see light at the end of a very long tunnel since evoking the concept in 1998."
Bangladesh has agreed in principle, but has set a number of conditions before going ahead with the project, including its right, if and when needed, to take supply of gas from the pipeline.
