With the country poised to celebrate the Energy Security Day, on 9 Aug, the government has taken a sensible decision to cut dependence on imported Liquid Natural Gas, LNG. The day is especially significant because on this date in 1975, Bangabadhu Sheikh Mujibur Rahman bought five fields from Shell Oil –Titas, Bakhrabad, Habiganj, Rashidpur and Kailashtila. The reserve of these fields was 15.4 TCF (Trillion Cubic Feet) and already, half of that is used up.

Specialists predict that in 10-12 years, gas reserve of the country will be exhausted. The decision to move away from LNG is indeed a timely one because the cost of importing LNG is huge. The draft of Gas Sector Master Plan (GSMP) shows that, to become a developed country, Bangladesh should daily consume 8,900 million cubic feet (MMCF) of gas. This demand would be difficult to meet as the gas reserves would be depleted in the next 15 years.

At this critical point the main thrust should be on exploration of new fields. Deep sea drilling is an option which can be looked into with offers invited from international companies for joint ventures. In power development in Bangladesh, several privately owned local companies have made a mark and it’s time more local entrepreneurs get involved in off shore gas exploration. There was talk of a regional power pact involving India, Nepal and Bhutan which may also prove to a boon for the gas sector in Bangladesh.

Since the gas reserve is dwindling fast, more emphasis should also be given to the development of green energy. Solar power can be popularized all over the country so rural people can, for a certain period of the year, rely on natural power for cooking. The idea to invite international companies is a canny move but the sharing-distribution contracts have to be clearly defined. No deal can be made where Bangladesh may stand to be the loser in the end.

Bangladesh has discovered the prospects of a big deep-sea gas reserve after the resolution of its maritime boundary dispute with Myanmar and India. A 2D seismic survey along the Myanmar border has revealed that Bangladesh could have a minimum of five prospective structures in the Bay of Bengal in Block D-12.