In the last decade, mineral resources sector has witnessed a revolutionary enhancement and progress in our country. However, production in industries and power plants is being hampered due to acute crisis of natural gas. Other consumers like fertilizer factories, CNG stations, residential and other sectors in the country are also suffering from gas crunch.
According to Bangladesh Oil, Gas & Mineral Corporation (Petrobangla), some 50 crore cubic feet of imported Liqufied Natural Gas (LNG) supply stopped for fault in the terminal since the beginning of December. Domestic gas production has also declined as Chevron, a US multinational company, has recently started renovation at Bibiana, the largest gas filed in the country. As a result, the gas supply has decreased by about 60 crore cubic feet. It will take at least another month to replenish the situation.
The government should give priority to
domestic oil and gas exploration to lessen
the dependence on imported LNG
Experts opine that LNG imports have been made compulsory to provide special facility to some group by creating a gas crisis. The country should give priority to domestic oil and gas exploration to lessen the dependence on imported LNG, but the issue has long been neglected.
If the country finds a sufficient amount of oil and gas reserves in the Bay, it can help overcome the current crisis and save a huge amount of money.
Government should therefore focus on originating more research and development programmes. This should be done to explore more sustainable sources of mineral resources and instead of using oil we can extract cheap gas-based solutions for electricity production, which will further decrease the cost of production and increase profit. We also recommend the government to approve various range of energy efficiency programmes for the future of country’s energy security.
Bangladesh still has many unexplored areas and potential reserve forms, and these surveys will surely increase high prospects of finding significant new gas. Therefore, a serious survey drive can certainly offer the country enough gas to offset the policy of imported energy dependence.