Gas crisis will be resolved by March, says State Minister Hamid

He attributed the supply disruption to refurbishment work at two floating LNG terminals in the deep sea

Published : 16 Jan 2024, 08:45 AM
Updated : 16 Jan 2024, 08:45 AM

State Minister for Power, Energy and Mineral Resources Nasrul Hamid said the government is working to resolve an ongoing gas shortage affecting households and industrial units nationwide before the start of Ramadan in March.

Hamid attributed the disruption to refurbishment work at two floating LNG terminals in the deep sea. "Our goal is to maintain regular gas and electricity supply, particularly during the start of fasting in March. We expect both LNG terminals to be fully operational by then," he said at a media briefing on Tuesday.

Hamid, serving his third term in charge of the Ministry of Power, Energy and Mineral Resources, has unveiled a draft plan aimed at ensuring uninterrupted gas and electricity supply over the next three years, in response to increasing demand.

"By 2026, Bangladesh aims to have uninterrupted gas supply. Currently, we import 20 percent of our gas and rely on domestic sources for the remaining 80 percent. While we don’t intend to significantly increase our reliance on imports, they will play a role in bridging any production gaps," he said.

He also addressed the progress, future prospects, and the challenges facing the power and energy sector, including adapting to the dynamic pricing of oil from March, exploring deep-sea oil and gas, domestic well drilling and the impact of conflicts in the Middle East.

Hamid is optimistic about the energy sector's future, buoyed by the new gas reserves found in Bhola and other areas. The potential discovery of gas in the deep sea could also be a game changer for the country, according to him.

With the irrigation season approaching and electricity demand potentially reaching 17,500 megawatts per day, Hamid reassured that the country's power plants are sufficiently prepared to meet the challenge.