Bangladesh is the sixteenth-largest producer of natural gas in Asia.[1] Gas supplies meet 56% of domestic energy demand.[2] However, the country faces an acute energy crisis in meeting the demands of its vast and growing population. Bangladesh is a net importer of crude oil and petroleum products.[2] The energy sector is dominated by state-owned companies, including Petrobangla and the Bangladesh Petroleum Corporation. Chevron, ConocoPhillips, Equinor,[3] Gazprom[4] and ONGC[5] are major international companies engaged in Bangladesh's hydrocarbon industry, with Chevron's gas fields accounting for 50% of natural gas production.[6]
Geologists believe the country's maritime exclusive economic zone holds one of the largest oil and gas reserves in the Asia-Pacific.[7] Protectionism and a lack of technical capacity have impeded Bangladesh's potential to emerge as a major global hydrocarbon producer. Two LNG Terminal and a gas pipeline will be created to ease the Bangladesh gas shortage.[8]
The International Islamic Trade Finance Corp has signed a $1.4 billion agreement to cover Bangladesh's oil imports.[9]
- ^ "Natural Gas Production by Country - Worldometer". www.worldometers.info. Retrieved 21 March 2022.
- ^ a b U.S. Energy Information Administration (EIA)
- ^ ConocoPhillips, Statoil awarded deep-sea gas exploration deal in Bangladesh
- ^ Gazprom hits more gas in Bangladesh – Pipeline Magazine
- ^ ONGC signs contracts to explore for oil, gas off Bangladesh | Reuters
- ^ "Archived copy" (PDF). Archived from the original (PDF) on 22 January 2016. Retrieved 17 April 2015.
{{cite web}}: CS1 maint: archived copy as title (link) - ^ Bangladesh: Asia’s New Energy Superpower? | The Diplomat
- ^ "Summit to build 3rd LNG floating storage, regasification unit in Moheshkhali". The Business Standard. 22 December 2021. Retrieved 21 March 2022.
- ^ "International Islamic Trade Finance Corp signs $1.4 billion deal to fund Bangladesh oil imports". The Business Standard. 9 July 2023. Retrieved 14 July 2023.