Bangladesh starts deep gas drilling
Plan to drill three deep wells aims to boost domestic output as Bangladesh battles severe gas shortages and rising reliance on volatile global LNG markets
DHAKA, Bangladesh (MNTV) — Bangladesh has launched a major energy initiative to drill three deep gas exploration wells as the country struggles with intensifying fuel shortages and growing dependence on expensive imported liquefied natural gas (LNG), which has disrupted daily life and hit industrial production across multiple regions.
The project, costing 11.36 billion Bangladeshi Taka ($96 million), will be implemented by the state-owned Bangladesh Petroleum Exploration and Production Company (BAPEX). The three-year program, launched in October, will continue until December 2027, focusing on identifying commercially viable reserves to boost domestic output.
Officials say that if successful, the wells could collectively add up to 1.69 trillion cubic feet of natural gas, with projections indicating that around 1 trillion cubic feet may be technically recoverable — a volume that analysts describe as significant at a time when Bangladesh’s reserve base is rapidly depleting.
The country is currently experiencing one of its worst energy crises in years, with a daily gas shortfall of 400–500 million cubic feet, forcing households and industries to compete for limited supply.
Residents in parts of Dhaka have reported near-zero gas pressure during peak hours, pushing families to rely on costly alternatives such as LPG cylinders and electric stoves.
Industrial zones in Gazipur, Narayanganj, Chattogram and Narsingdi have reported major production losses, prompting concerns among manufacturers over rising operating costs and export vulnerability.
To meet immediate demand, the government has increased reliance on emergency LNG imports from the global spot market. Since August 2024, authorities have approved 15 spot-market LNG cargoes costing 75 billion Bangladeshi Taka ($707 million).
Energy experts warn that the strategy offers only temporary relief and exposes the economy to international price volatility and currency-exchange stress.
Officials say the new drilling program is part of a broader long-term strategy to expand domestic exploration capacity, supported by plans to drill 20 additional wells and improve storage and transmission networks.
Energy analysts caution, however, that unless domestic extraction accelerates quickly, Bangladesh will remain exposed to global LNG shocks — a risk that may worsen as winter demand rises and industrial consumption grows.
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