The shortage of reliable energy is a big concern for Bangladesh due to the country's dwindling natural gas reserves and the escalating global prices of fossil fuels, according to energy experts, as they advocated for alternatives such as renewables and liquefied petroleum gas (LPG).
At a meeting held recently in Dhaka, the experts said the nearly identical commercial energy usage in FY22 and FY23 shows the acuteness of the energy shortage faced by the industrial sector.
"For a developing country, this is not a positive sign for industrialization," said Ijaz Hossain, former dean of the Bangladesh University of Engineering and Technology (Buet), during a presentation at the event organized by the Foreign Investors' Chamber of Commerce & Industry (FICCI).
"Despite an increase in the number of factories and their production, gas supply to the industrial sector has remained constant over the past decade. This demonstrates the acute energy crisis in industrial units," he added.
Referring to Petrobangla data, Hossain warned that if the current gas consumption continues, the country's gas supply could be depleted by 2030. According to him, discovering new gas wells is urgent.
Zaved Akhtar, president of FICCI, said investment decisions by entrepreneurs are heavily influenced by the availability of reliable energy solutions. He called for a comprehensive roadmap for renewable energy development.
Badrul Imam, an honorary professor at the Department of Geology at Dhaka University, M Rezwan Khan, a professor emeritus at the Department of Electrical and Electronic Engineering at United International University, Mollah Amzad Hossain, editor of the Energy & Power Magazine, and Nowshad Ali, country manager of GE Vernova Bangladesh, also spoke at the event.
