The prospect of deep sea gas reserves
It is encouraging to know that prospects of huge gas reserves have shown up in the Bay of Bengal along the sea demarcation line with Myanmar. For Bangladesh, there can be no better news than having gas resources in the sea, because presently the country is importing costly LNG from abroad to meet the domestic demand.
According to a report published in this newspaper yesterday, a 2D seismic survey has revealed that there is a possibility that Bangladesh could have five structures in Block D-12. This possibility becomes even stronger because this blocks position is beside the Myanmars block-AD-7 where gas was discovered in 2016.
It is now expected that Petrobangla would give the go-ahead nod to the South Korean conglomerate Daewoo Corporation to conduct a 3D seismic survey to ascertain the possibility of gas. The 3D survey in 2,000 sq km in Block 12 can give a positive or negative answer regarding the gas reserves. For an energy-starved nation like Bangladesh discovery of gas would certainly hit as big national news.
From the sea, gas reserves are the most precious things a nation can have in todays energy-driven world. But gas is not the only resource, there is other resources including fish that can come from the sea. Beside meeting the domestic demands, fish can be imported to countries where the demand for sea fish is high. Tourism is another economic prospect of sea. Moreover, ocean also acts as climate buffer and the ocean floor can have diamonds, gold, silver and metal ores like manganese nodules and gravel mines. What Bangladesh now needs to do is making good use of its maritime resources step by step like other countries acquiring experience and skill.
After Bangladeshs dispute with Myanmar and India over its maritime boundaries settled in the International Tribunal of Laws of the Seas (ITLOS), it very positively started exploring the prospects of gas reserves. As part of this plan, Bangladesh engaged the South Koreas POSCO Daewoo Corporation.
This business conglomerate is supposed to do the initial work of exploration for five years and as a result their efforts, huge gas reserves are showing up. It is now the duty of the government and Petrobangla to sincerely complete the initial exploration. Bangladesh can ill afford to ignore its sea resources.
