Last year the Bangladeshi government already raised gas tariffs for power plants by 178.88% cent to Tk 14 per cubic meter.
LNG dependence has exposed the dark side of Bangladesh’s energy security over the past several months, in a country experiencing a severe gas crisis.
Bangladesh’s gas production has dropped to a decade-low level amid continuous depletion of output and lax moves to ramp up extraction.
Bangladesh Energy Minister Nasrul Hamid said in a Gas Outlook interview that the nation hopes to import around 500 mmcfd of re-gasified Indian LNG from 2025.
Energy experts and rights groups fear that mounting Bangladesh LNG import dependence might weaken its already strained economy.
Bangladesh’s wind sector is being jumpstarted in an effort to cut the country’s reliance on unpredictable imported fossil fuels.
Acute load-shedding since late May due to a shortage of primary fuels to run power plants has led to the Bangladesh electricity crisis.
Bangladesh LNG facilities had to cease operations as preparations for Cyclone Mocha triggered an acute power and gas crisis, hampering businesses across the country.
Higher Bangladesh oil and other fossil fuel tariffs are leading to greater installation of rooftop solar systems.
Against a backdrop of the U.S. dollar crisis, state-run Bangladesh oil and gas firm Petrobangla is having trouble meeting its payments.