Ilisha-1 was declared as the country’s 29th gas field. This new gas field is estimated to have around 200 billion cubic feet (BCF) of gas reserves, adding to Bhola’s total gas reserves of approximately 3 trillion cubic feet (TCF) and these reserves will be available for 26 to 30 years.
The market value of Ilisha-1’s gas reserves is expected to be around Tk 6,500 crore or Tk 26,000 crore when calculated in terms of imported LNG. Plans are underway to establish a pipeline supply of Bhola gas within the next two to three years, connecting Bhola to Khulna via Barisal. However, the involvement of Gazprom EP International BV, a Russian company, in the gas excavation in Bhola has faced criticism due to higher charges compared to Bapex’s drilling costs. Additionally, the Sundarban Gas Distribution Company has signed a 10-year contract with Intraco Limited to supply surplus gas from Bhola to industrial areas. The price for this gas has been fixed at Tk 47.60 per cubic meter, which is Tk 17 higher than the current industry rate. The initiative aims to ensure the optimal utilization of Bhola gas, with plans to initially transport 5 million cubic feet per day (MMcf/d) to Dhaka via CNG, gradually increasing it to 25 MMcf/d. Manufacturing factories facing energy shortages in Bhaluka, Gazipur, will be given priority in gas supply from Bhola.