Bangladesh will be the victor in India/China rivalry

By The Wildcat 28 April 2017
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Bangladeshi PM Sheikh Hasina, left, and her Indian counterpart Narendra Modi. (PA) Bangladeshi PM Sheikh Hasina, left, and her Indian counterpart Narendra Modi. (PA)

China’s acquisition of three gas fields in Bangladesh, for which a preliminary deal was signed this week, has set off alarm bells in India as New Delhi fears losing its influence over Bangladesh to Beijing.

Himalaya Energy, a consortium of China ZhenHua Oil and state investment vehicle China Ningbo International Cooperation Co., has agreed to purchase the three Bangladeshi gas fields in a deal worth an estimated $2 billion. It marks the first large investment China has made in Bangladesh’s energy sector, but Beijing has spent many years building a closer relationship with the country.

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