Bangladesh’s ambitious ambition to increase its reliance on liquefied natural gas (LNG) as part of the Integrated Energy and Power Master ambition (IEPMP) has drawn criticism from a recent assessment. At a press conference, Market Forces, Waterkeepers Bangladesh and Dhoritri Rokkhay Amra (DHORA) delivered the research, which was titled Expensive LNG Expansion.
According to the report’s conclusions, the anticipated US $ 50 billion investment in LNG power projects and import ports might lead to serious public health, environmental and economic crises nationwide, with a particular impact on crucial industries like ready-made garments (RMG). Increased reliance on LNG may increase climate vulnerability, worsen air pollution and jeopardise financial stability.
Former National River Conservation Commission chairman Mujibur Rahman Howladar, who chaired the event, highlighted worries about the LNG projects’ potential negative health effects. Strict measures must be taken against those accountable for these detrimental investments.
According to the research, the IEPMP’s demand for a significant expansion in LNG power output would put a strain on Bangladesh’s finances because gas imports are predicted to cost an additional US $ 7 to US $ 11 billion a year. The RMG industry, which depends significantly on dependable electricity for production, may be especially affected by this financial burden, which could have an impact on the entire economy.
Critics contend that this increased reliance on imported fossil fuels is unsustainable and harmful to the economy and environment, even while international investment from firms like Japan’s JERA and the US-based GE Vernova powers the LNG growth. The money intended for LNG projects might be diverted to renewable energy projects, stressed Munira Chowdhury, an Asia energy analyst at Market Forces.
Instead, Chowdhury said, “Bangladesh could harness 62GW of renewable energy—more than double the country’s current power generation capability—by investing US $ 36 billion in LNG power plants.” She argues for a shift to clean energy sources like wind and solar power since they are more cost-effective and environmentally friendly.
Experts are calling for a reexamination of the LNG expansion plan as Bangladesh navigates its energy destiny in order to safeguard financial stability, preserve public health, and guarantee the resilience of important industries like RMG in a fast changing climate.
