United Power’s profit drops 16.18%

To deliver liquefied natural gas, the government has chosen to construct two floating terminals at Cox's Bazar. The terminals, which have a daily capacity of one billion cubic feet, are designed to import additional LNG from other countries in order to address the gas issue. One of the terminals is being built by Accelerate Energy, and the inaugural contract will be signed in a month.

Due to the high cost of fuel on the international market, the government is debating its coal policy, but it is not anticipated to increase coal. Choices will be made to guarantee the wellbeing of the nation and its citizens. The Energy Department has been issued orders by the Cabinet Department to complete the coal strategy, which is being mined from Barapukuria by underground mining, but only 10% of the stored coal is being lifted.

Bangladesh's government is planning to encourage foreign bidding for the country's offshore gas blocks by making the model production sharing contract (Model PSC) more appealing to international oil firms (IOCs) interested in investing in hydrocarbon exploration in the Bay.

Mitsubishi Power, a Mitsubishi Heavy Industries, Ltd (MHI) power solution brand, has earned a seven-year full-turnkey Long Term Service Agreement (LTSA) contract for the Bibiyana-III Combined Cycle Power Station. Mitsubishi Power, which supplied the M701F gas turbine for the power plant, has established a collaboration with the Bangladesh Power Development Board (BPDB) to offer maintenance and inspection services for the project's gas turbine and related power production equipment.

Power Development Board is concerned about the dollar crisis, as it is disrupting electricity production and creating complications in the import of electricity from India. It is estimated that the electricity sector will need 6 billion dollars in 15 months, with the remaining time of the current financial year and the possible demand for dollars in the next financial year.

The cost of power generation has been growing rapidly, but the cost of energy has climbed faster than the price increase, resulting to large losses for the Power Development Board (PDB). The loss for the current fiscal year is anticipated to be 44,950 crore 10 lakh taka, while the loss for the following fiscal year will be 42,885 crore 60 lakh taka.