Baku: Power, energy and mineral resources minister Iqbal Hasan Mahmood has sought foreign investments in the energy sector to ensure energy security of the country. ‘Bangladesh requires substantial investments in energy infrastructure to support industrial growth, trade competitiveness and economic prosperity,’ he said while speaking at ‘Baku Energy Forum 2026’ in Azerbaijan, according to a press release received here today.
According to Bangladesh Sangbad Sangstha, the minister emphasized the government’s commitment to a ‘Bangladesh First’ approach where energy security, affordability, and sustainability are central to the national development strategy. Mahmood attended the Ministerial Plenary Session on International Cooperation for a Resilient and Diversified Energy Future in Baku, Azerbaijan on June 1, seeking investments in various sectors including onshore and offshore bidding rounds, a land-based LNG terminal, a second oil refinery, and the expansion of renewable energy.
Mahmood highlighted that the government has launched offshore bidding rounds with a timeline extending until November 2026, as part of an election commitment to focus on domestic resource exploration. ‘We have updated the fiscal and commercial terms to make the investment environment more attractive to investors,’ he stated. Additionally, the minister detailed a strategic priority of generating 10,000 MW of electricity from renewable sources by 2030, underlining the importance of cooperation among D-8 countries in the hydrocarbon sector.
He further expressed Bangladesh’s interest in learning and knowledge exchange with countries experienced in renewable energy expansion and carbon market processing. Mahmood also welcomed investors from nations with renewable energy expertise to contribute to Bangladesh’s energy sector advancements.