Energy Bangla

The government has approved Chevron’s proposal to allow it to add a 60-square-kilometre “flank” area outside its existing contract zone in the north of the Bibiyana gas field, Senior Secretary of the Energy Division Mahbub Hossain disclosed on Tuesday night while addressing a function to celebrate the US oil giant’s 25th year of operations in Bangladesh. Dr Tawfiq-e-Elahi Chowdhury, Advisor on Energy Affairs to the Prime Minister, Petrobangla Chairman Nazmul... »

Europeans are preparing for a difficult winter without gas supplies from Russia, part of the fallout from the war in Ukraine, reports AFP. Latvians have been adjusting since the end of July, when Russia stopped supplying gas to the Baltic former Soviet state. They know what to expect in the coming months. “Energy prices are so exorbitant that we already cut off the hot water from the city pipeline and... »

Gas distribution companies asked the National Board of Revenue to return Tk 1559.48 crore which was realised as additional tax at source on gas bills from fiscal years 2015-16 to 2021-22. The companies said that the NBR realised the tax on gas bills instead of the companies’ distribution margins, making them pay more tax at source than the tax liability as the gas prices increased. According to them, an additional... »

One goes to local cynosure Summit Group and another to US firm Excelerate Energy’s share under deals sans tender as the Bangladesh government decides to build two more LNG-import terminals on the bay. Sources say one of the floating liquefied natural gas (LNG) import terminals will be built at Moheskhali island in Cox’s Bazar and the other at Payra in Patuakhali, as the country now heavily banks on LNG import... »

Ineptly done deals compel the government to make capacity payment in dollar worth around US$202,500 daily to two private FSRU owners without any re-gasification amid gas crunch, sources say. They say the state-run Petrobangla faces a double-edged sword as it cannot use the re-gasification capacity of the two plant units-one locally owned and the other foreign-owned-for cutback on LNG import while it is forced to pay for their unused capacity.... »

The world’s second-largest garment exporter is experiencing a slowdown that will threaten the nation’s economic recovery. Bangladesh’s garment industry, the world’s No. 2 exporter after China, is facing a double whammy from slowing global demand and an energy crisis at home that’s threatening to thwart the nation’s pandemic recovery. Plummy Fashions Ltd., a supplier to PVH Corp., the parent company of fashion brand Tommy Hilfiger, and Inditex SA’s Zara, saw... »

The price of liquefied petroleum gas (LPG) has decreased by Tk 2.92 per kg. From now, 12 kg container will be sold at Tk 1219 instead of Tk 1254, down by Tk 35 from 6:00 pm on Tuesday. The Bangladesh Energy Regulatory Commission (BERC) announced the price at a virtual briefing on Tuesday, reports UNB. The other quantity of LPG containers from 5 kg to 45 kg will rationally be... »

The Finance Ministry has given its consent to provide Tk2,000 crore to Petrobangla from Gas Development Fund (GDF) to import liquefied natural gas (LNG). An official order reveals that as per the proposal of the Energy and Mineral Resources Division, the Finance Ministry agreed to provide the fund as a loan to the state-owned Petrobangla. The approval from the Finance Ministry came against the backdrop of the severe fund crisis... »

Bangladesh’s entry into the International Energy Charter Treaty (IECT) will bring disaster to the country’s energy sector as through this treaty Bangladesh will virtually lose its sovereign  authority to control the foreign companies operating and those who will invest in the future in the country, experts opined. “If any dispute is created with any foreign investor, it has to be settled through an international arbitration court and the country has... »

Bangladesh Energy Regulatory Commission has directed state-owned Petrobangla to return Tk 12,227.44 crore to its two original funds—the energy security fund (ESF) and the Gas Development Fund (GDF). The energy regulator’s latest directive which came as the BERC Order No-2022/7, in detail, was released on June 27 and uploaded on its website on the same day. However, BERC gave its brief order on June 4 raising gas prices by average... »