Country to see shortage of 1000 mmcfd in daily gas supply despite steps

Despite different steps taken by the government to improve the gas supply situation, the country will have a deficit of about 1000 million cubic feet of gas per day (mmcfd).

Petrobangla chairman Zanendra Nath Sarker said this while exchanging views with energy reporters today.

"We have taken initiative to increase gas supply by importing about 1000 mmcfd gas which will boost the overall supply to 3000 mmcfd against the demand for 4000 mmcfd under the connected network", he said.

He said the government had approved import of 12 LNG cargos from international spot market in a bid to improve the supply situation alongside the import of gas from Qatar and Oman under long-term contracts.

Under this plan, he said, Petrobangla will import one or two cargos every week until June this year.

"We hope this import will have a good impact in improving the situation despite a huge deficit".

He also noted that it's a very good trend that the price of LNG on spot market is declining.

The government resumed LNG import in February this year after suspending import in July last year following excessive hike in price of gas on the international spot market.

The Petrobangla chairman also informed that negotiation is going on with Qatar and Oman to increase the LNG import.

Currently, under the long-term contract a total of 56 LNG cargos will be imported with Qatar and Oman until December this year.

But it takes more time to make a conclusion that how much gas could be imported and at what price, he said.

Zanendra Nath said the government has a plan to drill 46 wells at different gas fields by 2030 when the country's gas demand will go up to 5600 mmcfd.