Bizdata Insights Main Logo

BizData Insights

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

Industry: Energy & Power, LNG

The Ilisha-1 well located in Bhola district has officially been designated as Bangladesh’s 29th gas field, according to State Minister for Power, Energy, and Mineral Resources. The announcement was made from the minister’s residence in Dhaka. Initial estimates suggest the presence of a gas reserve of around 200 billion cubic feet in the newly discovered field. The projected gas production capacity is expected to reach 20 million cubic feet per day, with a collection span of 26-30 years.

The market value of the gas stored in the Ilisha-1 field is estimated to be Tk 6,500 crore. Furthermore, when considering the price of imported liquefied natural gas (LNG), the value rises to Tk 25,000 crore. Excavation operations for the Ilisha-1 field commenced on March 9 and concluded on April 14 2023. This development represents a significant addition to Bangladesh’s gas resources and holds promising prospects for the country’s energy sector.

Source for more details:

Related News

Meghna Bank Partners with Tiger New Energy

April 21, 2024

Meghna Bank recently inked a strategic agreement with Tiger New Energy (TNE) Company, a clean energy startup focusing on Li-Ion battery-swapping technology. The partnership aims to extend market reach and establish business collaborations

Govt Prepares to Import 40MW From Nepal

April 21, 2024

Bangladesh is on the brink of initiating the process of importing 40 megawatts (MW) of hydroelectricity from Nepal, marking the culmination of long-standing plans. Delays in the process, primarily due to awaiting India's full permission to use its grid, have now been overcome, with approval secured from India, confirmed by the Bangladesh Power Development Board (BPDB).

Fuel Cost for Coal-Based Power Generation Drops to Tk 7.30 per kWh

April 20, 2024

The reduction in international coal prices has significantly decreased the production costs of coal-based power plants in Bangladesh. The cost of fuel in these power plants saw a massive reduction of 50% in the price of coal in the international market. This reduction has had a direct impact on the affordability of electricity generation, making it more accessible for consumers. Specifically, the average fuel cost per kilowatt of coal-based power generation has decreased to around 7 taka 30 paise. Previously, electricity prices ranged from 16 to 18 taka per kilowatt due to higher fuel costs.

Petrobangla to Drill 48 Wells for 618 MMCFD by 2025

April 20, 2024

Petrobangla, the state-owned oil, gas, and minerals corporation, is embarking on an ambitious plan to drill a total of 48 wells across different gas fields to add 618 MMCFD to the national grid by 2025. This endeavour is crucial given the current gas shortage being experienced by various sectors, including power and industries.

Solar Lamps in Rajshahi Become Non-Functional Within a Year

April 20, 2024

Solar power projects in the remote village of Charghat, Rajshahi, have failed to deliver as promised. Despite a three-year maintenance agreement, the contractor, Saif Powertech and SDRS, failed to maintain the solar lamps, rendering them non-functional within a year. This project, implemented in 2019-20, cost Tk 5.51 crore and included the installation of 644 solar system panel lampposts.

Electricity Import Bills Mount to Tk 60 Thousand Crores

April 18, 2024

The issue of unpaid bills for electricity import from India, amounting to Tk 60 thousand crores as of the end of last January, has put significant strain on Bangladesh's finances. The government's efforts to address this challenge, including releasing subsidy funds and issuing special bonds, have been insufficient to cover the outstanding liabilities.

Related News

Meghna Bank Partners with Tiger New Energy

April 21, 2024

Meghna Bank recently inked a strategic agreement with Tiger New Energy (TNE) Company, a clean energy startup focusing on Li-Ion battery-swapping technology. The partnership aims to extend market reach and establish business collaborations

Govt Prepares to Import 40MW From Nepal

April 21, 2024

Bangladesh is on the brink of initiating the process of importing 40 megawatts (MW) of hydroelectricity from Nepal, marking the culmination of long-standing plans. Delays in the process, primarily due to awaiting India's full permission to use its grid, have now been overcome, with approval secured from India, confirmed by the Bangladesh Power Development Board (BPDB).

Fuel Cost for Coal-Based Power Generation Drops to Tk 7.30 per kWh

April 20, 2024

The reduction in international coal prices has significantly decreased the production costs of coal-based power plants in Bangladesh. The cost of fuel in these power plants saw a massive reduction of 50% in the price of coal in the international market. This reduction has had a direct impact on the affordability of electricity generation, making it more accessible for consumers. Specifically, the average fuel cost per kilowatt of coal-based power generation has decreased to around 7 taka 30 paise. Previously, electricity prices ranged from 16 to 18 taka per kilowatt due to higher fuel costs.

Petrobangla to Drill 48 Wells for 618 MMCFD by 2025

April 20, 2024

Petrobangla, the state-owned oil, gas, and minerals corporation, is embarking on an ambitious plan to drill a total of 48 wells across different gas fields to add 618 MMCFD to the national grid by 2025. This endeavour is crucial given the current gas shortage being experienced by various sectors, including power and industries.

Solar Lamps in Rajshahi Become Non-Functional Within a Year

April 20, 2024

Solar power projects in the remote village of Charghat, Rajshahi, have failed to deliver as promised. Despite a three-year maintenance agreement, the contractor, Saif Powertech and SDRS, failed to maintain the solar lamps, rendering them non-functional within a year. This project, implemented in 2019-20, cost Tk 5.51 crore and included the installation of 644 solar system panel lampposts.

Electricity Import Bills Mount to Tk 60 Thousand Crores

April 18, 2024

The issue of unpaid bills for electricity import from India, amounting to Tk 60 thousand crores as of the end of last January, has put significant strain on Bangladesh's finances. The government's efforts to address this challenge, including releasing subsidy funds and issuing special bonds, have been insufficient to cover the outstanding liabilities.

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here