At its first Ecnec meeting on Tuesday, the interim administration will review proposals for two more projects related to the discovery and development of new gas wells to meet demand and deliver gas to industrial areas, in addition to three updated projects.
The Chief Adviser, Professor Muhammad Yunus, will lead the meeting of the National Economic Council’s Executive Committee (Ecnec), according to sources from the Planning Commission.
The anticipated budget for the two new projects is Taka 988.40 crore. Meanwhile, the approved cost of the three ongoing projects, for which modifications have been suggested, was Taka 3,717.38 crore. The revised estimate for these projects should be increased by 121% to Taka 8,219.3 crore.
Drilling two exploration wells (Sundalpur South-1 and Jamalpur-1) and two evaluation-cum-development wells (Sundalpur-4 and Srikail-5) for a total of Taka 588.40 crore is one of the two new projects that will be presented at the Ecnec conference. The project will be implemented by the Petrobangla subsidiary, Bangladesh Petroleum Exploration and Production Company Limited (Bapex), by June 2026, according to sources with the Planning Commission.
If commercial gas is found after drilling the proposed four wells, the estimated Gas Initially in Place (GIIP) will increase by 620 billion cubic feet (BCF), of which 442 BCF are recoverable reserves.
Subject to gas availability, the potential daily production from the Sundalpur-4, Srikail-5, Sundalpur South-1, and Jamalpur-1 wells is 10, 20, 15, and 10 million standard cubic feet (MMscf), respectively. This means that the wells have a potential daily production of 55 MMscf. The project proposal claims that by increasing domestic gas supply and decreasing the demand for pricey LNG imports, this project will save a significant amount of foreign currency.
There will also be a proposal to increase the cost of the Bakhrabad-Meghnaghat-Haripur gas transmission pipeline construction project during the conference. When the project was first initiated in 2021, it was authorised to cost Taka 1,304 crore; a 20% increase in the revised cost, or Taka 1,570 crore, has been sought.
However, the project’s original cost of Taka 1,500.14 crore increased due to special modifications. The project proposal ascribes the rise to rising costs in the construction of gas pipelines, facility development, land development, and revenue sectors.
It is proposed to extend the project’s duration by two years and raise its expenditure. The project’s new completion date is June 2026.
There are plans to build six power plants in the Meghnaghat power hub area, including public and private ones. These plants will supply about 550 MMscfd of gas to customers in Ghazaria, Haripur, Siddhirganj, and Araihazar, as well as economic zones, industries, and commercial establishments.
From Bakhrabad in Cumilla to Haripur via Meghnaghat in Narayanganj, a fifty-kilometer gas transmission pipeline with a 42-inch diameter and 1,000 psig working pressure will transport the gas. Up to 1,000 MMscfd can be transmitted daily via the pipeline.
Building transmission infrastructure will be part of the project in addition to the power plants, industrial zones, and economic zones in the Meghnaghat hub and its surroundings, including Haripur, Siddhirganj, and Araihazar. This will ensure a consistent supply of gas to nearby companies, institutions, and other clients.
The Sustainable Social Services Project (Phase II) in the Chittagong Hill Tracts, which is valued at Taka 400 crore, is another new project that will be submitted for approval. For this project, Unicef would donate Taka 100 crore.
Sources close to the Planning Commission say that at the Ecnec meeting, a fresh proposal to increase funding for the land acquisition project that aims to widen the Faridpur-Bhanga-Barisal-Patuakhali-Kuakata national highway to four lanes will be made.
The project was previously approved by Ecnec in 2017 with a budget of Taka 1,867.86 crore, but the newly amended plan proposes an additional investment of Taka 5,899.66 crore.
