Country’s reserve gas can meet demand for 11 years: Nasrul

Staff Reporter :
Considering the average daily production of 2250 million cubic feet of gas, it will be possible to use the remaining gas for the next 11 years. Bangladesh has now the remaining recoverable gas reserves are 9.06 trillion cubic feet.
In a response to a written query regarding the country’s gas reserve from Awami League MP Nurunnabi Chowdhury, the State Minister for Power, Energy and Mineral Resources Nasrul Hamid told the Parliament on Monday. Speaker Shirin Sharmin Chaudhury chaired the session.
He said according to the latest estimate (July 1, 2022), the amount of proven and potential recoverable gas reserves in the country is 28.59 trillion cubic feet (TCF).
“From the beginning of gas production till June 30, 2022, the cumulative amount of gas in the country is 19.53 trillion cubic feet (TCF). Currently the remaining recoverable gas reserves are 9.06 trillion cubic feet (RCF). Considering the current average daily production of 2,250 million cubic feet of gas from the gas field, it will be possible to use the remaining gas for 11 years,” Nasrul Hamid said.
The mentioned time may increase or decrease if the daily rate of gas production decreases and if gas production increases following the discovery of a new gas field, he added. However, the concerned department under the Power, Energy and Mineral Resources Ministry had not conducted new major discoveries of gas fields in the last two decades. As a result, Bangladesh is precariously heading towards a total depletion of its natural gas reserves within the next 11 years. Contd on page-2 Col-7
Because of increased consumption, triggered by massive economic growth over the past decade, amid no new major gas discoveries, Bangladesh’s local gas production is already marking significant drops, leading to a shortfall of the fossil energy source and increased gas imports in the form of liquefied natural gas (LNG).
In 2020, the local fields produced 2,570.4 million cubic feet of gas per day.
Within a span of two years, the local gas production has come down by 286.4 mmcfd and, consequently, reliance on LNG imports is increasing in order to bridge the gap between the demand and supply from domestic sources.
But the volatile LNG pricing trend on the global market hints at a major danger for Bangladesh in availing the pricey product in future.
If a rigorous gas exploration programme is not taken up straight away, the gas-based industrial infrastructures, including readymade garment factories, power plants and fertiliser factories, will suffer a big setback with a sudden supply fall, according to experts.
As per the 2009 estimates by the UK-based RPS Energy Limited and lately discovered fields’ forecast, the recoverable proved and probable reserves in the 27 commercial gas fields in the country were 29.54 trillion cubic feet.
Meanwhile, Petrobangla’s data show that around 20 trillion cubic feet of the total reserves were extracted by 2021.
Meanwhile, in the face of a mounting crisis, the government has started to cut gas supply to some sectors.
In September last year, it started rationing gas at CNG stations for four hours a day, which has now been increased to six hours.