Gas supply expected to normalise in a few days: Titumir

The country's gas supply situation is expected to return to normal within the next few days as the government is importing gas from alternative sources and taking various measures, Rashed Al Mahmud Titumir, the prime minister's finance and planning adviser, said today (7 September).

"Energy security is not merely a matter of technology, management or economics. It is also a matter of conscious political decisions by the government. The future of the country's energy security depends on how the energy sector is managed," he said.

Titumir made the remarks while addressing a seminar titled "Energy Security in Bangladesh: From Crisis Management to Resilient Energy Transition", at the Bangladesh Institute of International and Strategic Studies (BIISS) auditorium in Dhaka.

Acknowledging the difficulties faced by people and the industrial sector due to the ongoing energy crisis, he said the government would not try to manage the situation by creating a "miracle narrative" while concealing the reality.

According to Titumir, the country's current gas demand is around 3,800 mmcfd, against a supply of 2,600-2,700 mmcfd.

Of the current supply, around 1,600 mmcfd comes from domestic sources and around 1,000 mmcfd from liquefied natural gas (LNG).

Including the demand from new customers who have applied for gas connections, the total national demand could rise to around 5,200 mmcfd.

To meet the growing demand, a memorandum of understanding has been reached with a Chinese company to set up a land-based LNG terminal at Matarbari with a capacity of 1,000 mmcfd, as well as a 600 mmcfd floating LNG terminal (FSRU) in the deep sea off Maheshkhali, Titumir said.

He also outlined plans to increase the country's fuel reserves.

Titumir said Bangladesh had enough diesel to meet around 17 days of demand in February, but the reserve has now increased to 32 days.

The government is working to increase the reserve to 90 days in the long term, he said.

Referring to the Rooppur Nuclear Power Plant, Titumir said the facility could begin generating electricity in early 2027.

He said all safety measures would be ensured before the plant is commissioned.

Import dependence rises sharply

At the seminar, STEX Foundation Chairman Professor Ejaz Hossain said around 20% of the country's energy demand was dependent on imports in 2015.

That figure has now risen to approximately 62.5%, meaning import dependence has increased by 42.5 percentage points over the past decade, he said.

He recommended purchasing crude oil and building strategic reserves when global oil prices are low.

"If the reserves can be used during a crisis, the pressure of importing fuel at high prices can be reduced," he said.