According to a new analysis, Bangladesh’s proven natural gas reserves might be drained in less than five years if present production levels are maintained.
Domestic gas supplies are likely to plummet 25 per cent by 2025, according to the report titled “Bangladesh at an Energy Crossroads,” since the current rising trend of consumption is expected to continue.
The report was released on Saturday by the Rocky Mountain Institute (RMI), a non-profit organization based in the United States. Bangladesh continues to consume more natural gas than it can produce, thus it is increasingly depending on imported LNG to make up the difference, according to the research. LNG accounts for about 22 per cent of Bangladesh’s gas consumption.
Bangladesh imported approximately 4.3 million tonnes of LNG in 2020, and with rising gas demand, LNG imports are predicted to more than double between 2019 and 2040. It has also expressed support, but will not be a signatory to the landmark Global Methane Pledge, which will be held in 2021 during the Major Economies Forum on Energy and Climate.
According to the analysis, emissions associated with the production and transportation of LNG might account for nearly all of Bangladesh’s emissions by 2040. The shift away from indigenous production and toward gas imports is to blame. Furthermore, if emissions are not adequately managed along the gas value chain, methane can have just as terrible, if not worse, a climate impact as coal.
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