Even as production and supply from local gas fields has been declining since 2015 and will continue to decline in the near future amidst the global energy landscape impacted by increased market uncertainty due to the Russia-Ukraine war, the International Chamber of Commerce-Bangladesh (ICCB), the editorial of the current News Bulletin (July-September 2022), has underlined gas exploration as the best option to overcome energy crisis.
This is as per media reports while adding that the ICCB further underlined production and supply from local gas fields has been declining since 2015 and will continue to do so in the near future, while on the other hand, geoscientific studies testify that there is more untapped natural gas in Bangladesh than what has so far been extracted, even as a two-year joint study (2001) by the US Geological Survey (USGS) and Petrobangla reportedly showed Bangladesh has mean probability (50 per cent) of undiscovered natural gas resource to the tune of about 32 trillion cubic feet (Tcf).
It may be mentioned here that industries in Bangladesh including the readymade garment industry have been facing power and gas crisis lately, which has reportedly hit production hard.
