Petrobangla says no plan to raise gas prices now
The state-owned corporation says recent reports about a possible tariff hike have created confusion among stakeholders.
Highlights
- Corporation seeks to dispel confusion over tariff reports
- Reports said higher CNG and power gas prices
- Proposed hike linked to rising LNG import costs
- Gas supply crunch adds pressure on energy sector
Petrobangla has said the government currently has no plan to increase gas prices, seeking to dispel confusion created by recent media reports about a possible tariff hike.
In a statement issued today (1 August), the state-owned corporation said, "Following recent reports in different media outlets regarding a gas price increase, it is being informed that the government has no plan at this moment to raise gas prices. All concerned are requested not to be confused over the issue."
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The clarification came after reports emerged that Petrobangla had sent a proposal to the Energy and Mineral Resources Division (EMRD) seeking higher gas prices for compressed natural gas (CNG) used in transport and gas supplied to power plants.
According to those reports, the proposal was aimed at narrowing the widening gap between the cost of imported liquefied natural gas (LNG) and regulated domestic gas tariffs, as the government continues to grapple with mounting subsidy pressures.
The issue has drawn attention at a time when the country is also facing a severe gas supply crunch following a fire at Excelerate Energy's floating storage and regasification unit (FSRU) off Moheshkhali.
The incident significantly reduced LNG regasification capacity and disrupted gas supplies to industries, power plants and households.
