Energy Bangla

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... »

The knitwear industry in the county has long been reeling from insufficient gas supply, which is now causing this vital export sector to miss out on potential export earnings worth $2 billion (Tk 18,000 crore) a year. Knitwear exports fetched $20 billion in the July-May period of the current fiscal year — a sizeable 36 percent jump from $15.36 in the corresponding period last fiscal year, according to the latest... »

Bangladesh Energy Regulatory Commission has raised natural gas prices by 22.78 percent to Tk 11.91 per unit, the first increase in about three years, putting more pressure on the families already hit by the rising cost of living. The decision will boost gas prices across the board, except for CNG users for vehicles who pay Tk 43 per cubic metre. The new rates will be effective from June and remain... »

Bangladesh Energy Regulatory Commission (Berc) will announce the new gas tariff at the consumer level Sunday (June 5, 2022). Berc has called a virtual press conference in this regard at 3:00 pm tomorrow. According to a Berc press release, the commission’s order on the new price rates at the consumer level of natural gas will be announced by the commission via a virtual press briefing. In January, the state-owned gas... »