Unlocking Bhola’s Gas: Bangladesh’s Answer to Deepening Energy Crisis?
Bangladesh is facing a severe energy crisis. Global conflicts, like the Middle East war, have sharply increased fuel prices. This has caused many problems across the country.
Load-shedding, or power cuts, now affect Dhaka, the capital city. Gas shortages make daily life harder and more expensive. Factories are producing less. Farmers face risks to their Aman rice crop and food security.
Bangladesh relies heavily on imported gas, a trend since 2016. This dependence has proven very costly. The World Bank warns a prolonged crisis could lead to 600,000 job losses. It might also double fertilizer prices. Rising rice prices could push 1.4 million more people into poverty.
Most of Bangladesh’s imported gas comes from the Middle East. War has damaged energy infrastructure there. This includes countries like Qatar, a major gas supplier. Petrobangla, Bangladesh’s gas company, now buys gas at over double the usual price.
Experts say Bangladesh must use its own resources. A 2017 master plan proposed extracting more local gas. It also suggested using renewable energy. Professor Anwar Hossain Bhuiyan of Dhaka University supports this.
He believes Bangladesh can find 18 trillion cubic feet of gas locally. This can be done by exploring existing fields and drilling deeper. BAPEX, the national exploration company, has a good success rate in finding gas.
Bhola alone has nearly 5 trillion cubic feet of gas. This gas is worth about 5 trillion Taka. Yet, less than half of Bhola’s daily gas capacity is used. Gas production in Bangladesh has been falling since 2016.
A pipeline to bring Bhola gas to the mainland was planned in 2018. It was not built, reportedly due to a 6 billion Taka cost. Today, this pipeline would cost 30 to 40 billion Taka.
This situation raises questions. Why are domestic resources unused while large sums fund imported gas? Connecting Bhola’s gas to the national grid is crucial. A clear decision is needed to secure Bangladesh’s energy future.
