Gas reserves to be zero in 5-yr!

If new well not found

The capacity of the fields under Chevron is over. Gas extraction from these fields can be stopped at any time

Mahfuz Emran: Almost 70 percent of the natural gas reserves of the country have utilized so far and the rest 30 percent will be finished within next 5 years, if no new gas well is invented.
The country’s gas reserves are running out, which has been discussed for years. In both of these years, the stock has decreased by more than 5.5 percent. However, despite the lack of new fields on land, offshore gas exploration has not progressed much. However, due to the crisis, at least one-third of the gas demand can’t be supplied. From common people to various industries are affected.
According to Hydrocarbon Unit, recoverable gas reserves in the country are 29.9265 trillion cubic feet (tcf). Of this, 20.5484 TCF has been extracted till last September, which is 68.66 percent of the reserves. At that time, the remaining gas reserves in the country were 9.3781 TCF or 31.34 percent. However, some gas can’t be extracted from the remaining reserves. Because some gas cannot be extracted in each field when the pressure decreases.
Meanwhile, at the end of September 2021, the amount of gas extracted was 18.8868 TCF and reserves were 11.0393 TCF. In other words, gas reserves in the country have decreased by 1.6612 TCF or 5.55 percent in two years. And at the end of September 2022, the amount of gas extracted was 19.7154 tcf and reserves were 10.2111 tcf. That is, in the last one year, gas reserves have decreased by 0.833 TCF or 2.78 percent.
According to information, US company Chevron has been supplying the most gas to the country for several years. The company had gas reserves of 7.6127 TCF in three fields. Of this, 7.6589 TCF of gas has been extracted. That is, the capacity of the fields under Chevron is over. Gas extraction from these fields can be stopped at any time.
More than half of the local gas supply to the national grid used to come from Chevron’s fields, experts say. However, due to the increased supply of gas from them over the years, their reserves have been exhausted. Although more than half of the country’s gas reserves are in gas fields operated by local companies. But so far companies have not been able to increase supply in that way. Due to the increasing demand of gas in the country, the gas sector may face a major disaster in the near future if alternative channels or supply lines for local supply are not created now.
Meanwhile, in terms of quantity, the most gas has been extracted from the fields of Bangladesh Gas Fields Company Limited. Under this company, 12.2520 TCF of gas was stored in six fields. Of this, 9.303 TCF or 75.93 percent has been extracted. And the remaining is slightly more than three TCF of gas.
Sylhet Gas Fields Company is in the third position in terms of extraction. Under this company, there were 7.033 TCF of gas reserves in five fields. Of this, only one-tenth 8643 TCF or 26.51 percent has been extracted. And the remaining 5.1687 TCF of gas.
According to the information of Hydro Carbon Unit, Rashidpur, Titas and Kailastila currently have the highest gas reserves in the country. In these three cases, the amount of gas reserves is 2.4273 TCF, 2.2212 TCF and 2.0815 TCF respectively. Among these, Titus is under Bangladesh Gas Fields and Rashidpur and Kailastila are under Sylhet Gas Fields. However, reserves in other gas fields of the country are half TCF or less.
In response to a question in the National Assembly in January last year, Minister of State for Power, Energy and Mineral Resources Nasrul Hamid said that the amount of gas stored in the country till June 2022 was 9.06 TCF. Considering that about 2,250 million cubic feet of gas is being produced daily from the domestic gas fields, it will be possible to meet the demand for about 11 years with the remaining stored gas. Apart from this, various activities of searching for new gas fields are also being conducted.
Taking into account that calculation, it will last 9 to 9.5 years with the gas stored in the country. Badrul Imam, an energy expert and professor of Geology Department of Dhaka University told in this context that the shortage caused by the reduction in Chevron’s gas supply is not possible for domestic companies. Because they themselves could not increase gas extraction for years. Even with huge reserves of gas, the supply to the grid is low. The initiatives being taken now will not bring any major gas supply to the grid.