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Dhaka Sunday,  May 29, 2022

Uninterrupted Energy To Ensure Development: Nasrul

State Minister for Power, Energy and Mineral Resources Nasrul Hamid today said the trend of development will be continued through uninterrupted supply of energy to industries.

“The country has discovered a new gas field at Zakiganj in Sylhet, which is the 28th gas field,” he as the chief guest at a webinar on the occasion of National Energy Security Day-2021.

According to a ministry statement, the new gas field is at Zakiganj with GIIP (Gas Initially In Place) and around 68 bcf (billion cubic feet). Considering 70 percent recovery from the gas field, the extractable gas reserve is around 48 bcf. The country will get around 10 mmcfd from the gas field.

The state minister said that keeping in mind for energy demand in 2041, the government has been working to implement adopted plans aim at enriching energy system and management for the prosperous Bangladesh.

Wise and prudent statesman, the greatest Bangali of all time Father of the Nation Bangabandhu Sheikh Mujibur Rahman nationalized five gas fields including Titas, Habiganj, Rashidpur, Kailashtila and Bakhrabad on August 9, 1975 with only 4.5 million pounds sterling, Nasrul Hamid added.

He mentioned that Gas Initially in Place (GIIP) reserve was 20.79 trillion cubic feet in the five gas fields.

According to the latest estimates, the extractable gas reserve at that time was 15.44 trillion cubic feet and the current price at $49.89 billion.

The state minister said that economical aspect is more than the financial aspects, adding, “Industries and employment generation were expanded for these gas fields. Moreover, after 46 years, these five gas fields contributed a total of one-third gas production.”

He said that the historic and milestone decision by Bangabandhu makes immense contribution for the country’s energy security.

“If the ongoing projects like single point mooring, ERL unit-2, LNG terminal, LPG terminal and oil transmission pipeline etc. are being implemented, a visible change will be observed in the energy sector,” Nasrul Hamid said.

Nasrul Hamid said the government has taken an initiative to replace the old gas pipelines in Dhaka city with new ones to check the gas leakages as part of its move to bring the entire gas distribution system under an automation through digitization.

This year’s theme-Let’s move forward in energy sector prosperity in the year of Mujib Morsho, Energy Security Day is being celebrated across the country.

Director General of Hydrocarbons Unit ASM Manjurul Quader presented the main article on Energy Security: Modern Context, Challenge and Way Forward.

Chaired by senior secretary of energy division Md Anisur Rahman, the webinar was addressed, among others, by parliamentary standing committee chairperson Begum Wasika Ayesha Khan, lawmakers Begum Nargis Rahman, Mst Khaleda Khanam, BPC Chairman ABM Azad and Petrobangla Chairman ABM Abdul Fattah.

Professor M Tamim, Energy Bangla Advisory Editor Arun Karmakar and Energy and Power Editor Mollah Amzad Hossain were panelists of the webinar.

Anisur Rahman said the government has been importing gas from two companies under long-term contracts and also from other companies on the international spot market to meet the domestic demand.

“This import needs Tk 6312 crore as subsidy to keep the price low in line with the local gas price as the import cost is $8-9 per unit against the price of local gas at $2.5-3 per unit,” he said.

M Tamim said the government should emphasize setting up land-based LNG terminals and also import of electricity from regional sources to meet the growing demand.

He said gas will be used as transitional fuel in the next 20 years prior to using renewable energy as the next future energy.

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