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China to finance major Bangladesh pipeline project

China to finance major Bangladesh pipeline project
China continues to reshape energy flows into the Bay of Bengal.

Having constructed pipelines through Myanmar into China, Beijing has just signed up to help Bangladesh build its own oil import infrastructure.

China will help build a 220 km pipeline, which includes a 146 km offshore stretch, taking oil from tankers into the south Asian nation.

Storage tanks will be set up on Moheshkhali Island, some 10 km west of Cox's Bazar. The whole project is projected to cost around $550m and is due for completion by 2020. Financing is coming from China's Exim Bank.

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