Bangladesh is leading gas-fired capacity expansion in South Asia, increasing its operating capacity twofold, despite struggling with domestic gas shortages, according to the Global Energy Monitor (GEM). The country has developed around 41 gigawatts (GW) of gas-fired infrastructure. GEM’s report reveals a 13% increase in global oil and gas-fired power plant development, reaching 783GW in projects from announcement to construction phases over the year.
Asia accounts for nearly two-thirds of this capacity and costs, concentrated mainly in China and Southeast Asia. If these projects come to fruition, the global oil and gas fleet will expand by a third, incurring an estimated $611 billion in capital expenditure. Bangladesh ranks first in South Asia for gas expansion, with 55% of its electricity generation coming from gas. However, the country faces power outages due to fuel shortages that may persist until 2026. Despite high LNG prices, analysts note that solar and wind power costs are generally below those of gas-fired power and significantly lower in China.
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