Ilisha-1 Declared as Bangladesh’s 29th Gas Field

The construction of the second thermal power project at Matarbari in Cox's Bazar has hit a roadblock due to a lack of funds after Japan withdrew its financing due to environmental concerns.

The latest Global LNG Outlook 2024-2028 from the Institute for Energy Economics and Financial Analysis (IEEFA) suggests that Bangladesh's investment in new nuclear facilities, coal-fired plants, and renewable energy sources may impact the full-capacity utilization of gas-fired power plants in the near term.

After four years of negotiations, Petrobangla, Bangladesh's state-owned oil, gas, and mineral corporation, is on the verge of finalizing agreements with an Indian private company, H-Energy Private Limited, for the import of regasified LNG through a cross-border natural gas pipeline. This strategic move aims to address the growing gas crisis in Bangladesh and bolster the country's energy security.

Power Grid Company of Bangladesh Limited (PGCB) has demonstrated a notable turnaround in its financial performance during the first three quarters of the current financial year 2023-24. The company reported a net profit of Tk 197 crore 41 lakh after tax, compared to a net loss of Tk 331 crore 91 lakh in the same period of the previous financial year. This return to profitability is primarily attributed to a reduction in foreign exchange losses.

The Rooppur Nuclear Power Plant project, one of the largest and most significant developments in Bangladesh, is facing delays in its completion timeline. While the original plan aimed for the commissioning of Unit-1 by December 2022 and Unit-2 by October 2023, the deadline has been extended to 2027 due to various challenges.

State Minister for Power, Energy, and Mineral Resources announced today that over the past two years, a significant crackdown on illegal gas connections has resulted in the disconnection of 865,000 such connections. These include 336 industrial connections, 475 commercial connections, 97 captive power plants, and 13 CNG stations. Additionally, approximately 989km of illegal pipelines have been removed, and fines totalling Tk604 crore have been imposed on illegal consumers.