AmCham aims to meet power demand
The American Chamber of Commerce in Bangladesh (AmCham) has called for the immediate implementation of a coordinated, multi-faceted energy strategy to address a projected doubling or tripling of national energy demand over the next 15 to 20 years.
During a focused group discussion titled “Strategic Pathways for Energy and Power Sustainability,” organized by the AmCham Energy & Power Subcommittee at the Sheraton Hotel in the city on Wednesday, leading industry experts and stakeholders emphasized that unilateral policy views must be replaced by consultative, stakeholder-driven recommendations to ensure long-term energy security, said a press release on Thursday, reports BSS.
Eric Walker, Vice President of AmCham and President of Chevron, underscored the urgent need for renewed drilling and government support for both onshore and offshore exploration. He advocated for a diversified strategy that includes additional LNG terminals and expanded investment in solar power, supported by strong industry-government collaboration.
Professor M. Tamim, Vice Chancellor of IUB, warned that while boosting output from existing fields is essential, it could take two to five years.
He recommended engaging international reservoir management firms to optimize output, noting the limitations of relying solely on the Bangladesh Petroleum Exploration and Production Company Limited (BAPEX).
During the meeting, experts also identified renewable energy as the fastest solution to the current crisis. Professor Tamim suggested that Bangladesh could realistically add 3,000 MW of solar capacity by 2030, plus another 2,000 MW through rooftop systems, significantly reducing daytime reliance on expensive oil-based power plants.
However, Dr. Sebastian Groh, Managing Director of Solshare, highlighted significant policy barriers. He pointed out a duty disparity where specialized energy service companies face over 30 per cent duty on solar equipment imports, compared to just 1 per cent for garment factories, creating an uneven playing field that hinders sectorial growth.
HabibBhuyian, Country Manager of Accelerate Energy, warned of the severe economic consequences of prolonged reliance on high-priced spot LNG.
The meeting was attended by Am Cham President Syed Ershad Ahmed, along with representatives from major energy firms including Chevron, Accelerate Energy, GE Vern ova, and IDCOL, as well as officials from the United States Embassy in Bangladesh.
