In the span of two weeks in February, domestic gas production (daily) decreased by 41 million (41 million) cubic feet. On the 31st of January, it decreased by 19 million cubic feet.
On January 1, the total production was 1929 million cubic feet, which decreased to 1870 million cubic feet on February 15 which was 1968 million on November 1. Production is decreasing every day as the reserves of domestic gas fields are decreasing.
On January 1, 2020, Bangladesh Gas Field Company extracted 708 million cubic feet of gas, and on February 15, 2025, the company's production decreased to 483 million. At the same time (January 2020), the supply from 4 gas fields under multinational companies was 1656 million, which decreased to 1139 million on February 15.
When production is on the decline, the demand for gas is increasing at a geometric rate. This is further increasing the huge gap between demand and supply. Along with this trend of declining production, there is a threat of a major disaster. The largest source, Bibiana, may face a major shortage any day as its reserves are decreasing.
On a daily production day of 1870 million cubic feet, 956 million cubic feet came from the Bibiana gas field. The gas field's reserves may run out by 2026. If the fears are true, 1 thousand million cubic feet of domestic gas will be reduced.
No information is given openly by any party about Bibiana's reserves. According to Petrobangla's latest annual report (2022-23), the remaining reserves in July 2023 were shown as 134 BCF. Then it was said that Bibiana's reserves may increase by 1 TCF. 592 days have passed since then.
The previous government had leaned towards imports to meet the deficit. They had taken the initiative to set up two more floating LNG terminals (FSRUs). The current government has canceled the agreement made under a special law. It is being said that it will be given through a new open price. But not much progress is visible. After the agreement, it will take at least 18 months to set up the floating terminal. That is why the way to increase imports in 2025 and 2026 is also closed.
According to Petrobangla sources, the average price of gas produced in the country is around 6.07 taka. In the 2023-24 fiscal year, one-fourth of the gas was imported, so the average price has reached 24.38 taka. When it is difficult to import one-third, at that time the reserves of domestic gas fields are running out, which is constantly reducing production.
There are also many shortcomings in other options to meet the deficit. Along with Petrobangla's inadequate preparation, the long delay of the ministry and the planning department in approving the DPP is acting as one of the main obstacles. It takes at least 2 years to approve a DPP.
Those concerned consider today's gas crisis to be the result of the shortsightedness of the previous governments.
The country's gas crisis, which is on the brink of collapse, could become even more severe, especially by 2026, with many fearing a major catastrophe. Energy experts consider increasing LNG imports to be a dangerous option. Skyrocketing prices are an obstacle, and there is no scope to increase the import volume at will. It is possible to import a maximum of 900 million on an average daily basis with the two existing FSRUs.
Energy expert Dr. Ijaz Hossain told Barta24.com that production is decreasing due to the depletion of reserves in our domestic gas fields. If we want to maintain the current production capacity, we will have to dig at least 10 exploration wells a year. There is a need to import LNG, but it must be limited. If we want to provide uninterrupted power supply, the import cost in this sector will stand at 24 billion dollars which is very complicated for our economy.
Energy expert Maqbul E Elahi Chowdhury told Barta24.com that new wells are being dug very quickly, old wells are being renovated and production is being increased, and Bibiana is producing up to 70 million, while Rashidpur and Titas gas field wells are providing much less (10 to 25 million) supply. Attention needs to be paid there too.
He said that 3,000 million cubic feet of gas is being supplied daily, of which about 10 percent is being lost in the system, that is, about 300 million cubic feet of gas is being stolen. Although some technical losses are normal, 10 percent is not acceptable in any way. A maximum of 2 percent system loss can be considered.
CAB Senior Vice President and Energy Adviser Dr. M Shamsul Alam told Barta24.com that warnings have been issued about Bibiana for a long time. Its production may collapse by 2026. But those warnings were not heeded. Some urgent work was not done. There is 1 TCF of gas in Chhat and gas needs to be brought from there.
Petrobangla Chairman Rezanur Rahman told Barta24.com that it has been decided to do it with the company's financing instead of DPP to avoid a long delay. Some initiatives have already been taken, which will increase production.
A total of 9 wells have been drilled in two gas fields in Bhola. With which it is possible to extract about 200 million cubic feet of gas. 5 of the 9 wells are currently capable of producing gas, from which it is possible to supply 135 million cubic feet of gas daily. Due to lack of demand for gas, only 80 million gas is being extracted, and due to lack of pipeline, it is being fed to the national grid. The Energy and Mineral Resources Division wants to bring 85 million cubic feet of gas in the form of LNG from that area.
On the other hand, although gas is ready in Begumganj-4 and Sylhet-10 wells, it is being extracted due to lack of pipeline. Delay in obtaining permission for the SEZ in Sylhet-10 and halt in pipeline construction due to opposition from locals in Begumganj complicate the situation in the last 113 years, 99 exploration wells have been drilled in Bangladesh. Through this, 29 gas fields have been discovered. Although gas was found in some fields like Mubarakpur and Kasba, it was not declared commercially unrecoverable. Bangladesh is working towards drilling one well per 5,000 square kilometers, while America is considering drilling one well per 14 square kilometers and India is considering drilling one well per 18.6 square kilometers. Energy experts have been blaming the stagnation of exploration for the gas crisis in the country for good reason.