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Bangladesh - March 2, 2022

Energy crisis intensifying!

Salek Sufi: Adverse effects of politics and the impact of Corona extreme are putting Bangladesh’s sustainable energy security in deep crisis. Lack of planning, proven gas reserves of their own gas resources are running out fast, Bangladesh was in the initial energy crisis. In addition, due to the huge gas base, more than 2000 MW of gas-dependent power generation capacity was idle. The maximum production capacity including imported LNG was 3000 MMCFD.
In December last year, due to technical glitches in the AFS of the domestic company Summit Group, the LNG supply dropped from 650 mfcfd to 400 mmcfd. Gas users of all classes are in crisis even during the relatively low demand in winter season.
It is unknown at this time what he will do after leaving the post. Meanwhile, the time of Ramadan and summer is also approaching. Intensive irrigation has started. At present about 4000 MW of electricity is being generated with liquid fuel.
The price of crude oil in the world market is now US$ 100 / barrel. The cost of production has increased a lot. The price of gas has gone up as the price of LNG has skyrocketed in the spot market. The government is considering raising gas, electricity and fertilizer prices to reduce subsidiaries. Thus, the impact of Corona has created a crisis in public life. Prices of essential commodities skyrocket in the market. Now if gas, electricity prices rise; It will be a ‘blow to the head’.
In such a situation, the superpower Russia invaded Ukraine and spread the crisis in many ways.
From 2000 to 2021, their own gas exploration and development did not achieve the minimum. The government is sitting on 60 TCF equivalent of high-quality coal resources. Due to geographical reasons, the shallow coastal areas of Bangladesh are not suitable for construction of imported energy infrastructure. Chittagong, Mongla or Payra ports can’t handle medium capacity coal or LNG vessels.
Import of coal, LNG and LPG will be easier if the port under construction at Matarbari alone is connected to the deep sea with a 14 km long 200 m post and 18 m deep connecting canal. The stakeholders have been trying for a long time to extract their own gas and coal but the work has not been done. Coal extraction does not seem to be happening at all. The world is rapidly shifting from fossil fuels to renewable fuels.
Bangladesh will not be able to achieve sustainable energy security by purchasing at high prices due to the volatile global energy market for various reasons. The need is to ensure maximum use of one’s own resources. To develop all sources of renewable energy and keep prices affordable for all.
Bangladesh needs more, a balanced and affordable fuel mix. Otherwise, the economic development of Bangladesh, a developed country like Qatar, will be severely hampered.

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