Bangladesh has called for increased foreign investment in its energy sector, emphasizing the need for substantial financing to strengthen energy security, support industrial growth, and sustain economic development.
Speaking at the Baku Energy Forum 2026 in Azerbaijan, Power, Energy and Mineral Resources Minister Iqbal Hasan Mahmood highlighted Bangladesh’s growing energy investment requirements and outlined key opportunities for international investors.
Addressing the Ministerial Plenary Session on “International Cooperation for a Resilient and Diversified Energy Future” on June 1, the minister said the government remains committed to a “Bangladesh First” strategy, placing energy security, affordability, and sustainability at the core of national development.
He invited foreign investors to participate in Bangladesh’s ongoing onshore and offshore hydrocarbon bidding rounds, development of a land-based LNG terminal, construction of a second oil refinery, and expansion of renewable energy projects.
Mahmood noted that Bangladesh officially launched a new offshore bidding round last month, with submissions open until November 2026. He said the government has revised fiscal and commercial terms under the updated production sharing contract (PSC) framework to make investment conditions more attractive and competitive.
The minister also reaffirmed Bangladesh’s commitment to renewable energy development, citing the national target of generating 10,000MW of electricity from renewable sources by 2030.
Highlighting the importance of regional collaboration, Mahmood said cooperation among D-8 member countries in the hydrocarbon sector remains vital for ensuring reliable and affordable energy supplies.
He further expressed Bangladesh’s interest in learning from countries with extensive experience in renewable energy deployment and carbon market development, while welcoming investors with expertise in clean energy technologies to explore opportunities in Bangladesh.
According to the minister, strengthening international partnerships and attracting private investment will be essential for meeting the country’s future energy demand and advancing its transition toward a more sustainable energy system.
