Dhaka: The government has announced plans to dig two additional gas wells in Jamalpur as part of ongoing efforts to explore domestic gas resources. Petrobangla Chairman Md Rezanur Rahman stated at a seminar in the city that the digging work is expected to commence in January next year, following the completion of necessary documentation by December this year. These efforts are part of a broader initiative to enhance gas production from local sources.
According to Bangladesh Sangbad Sangstha, the seminar, titled 'Energy Security of the Country: Challenges and Way Forward - the Role of Media,' was held at the Petrobangla auditorium. Energy expert Professor Dr. Ijaz Hossain presented a keynote paper, outlining the country's need for 4,600 mmcfd gas by 2030 to meet current and future demands. He emphasized the importance of maintaining domestic gas production at 2,000 mmcfd through aggressive exploration activities. Additionally, he recommended the installation of two new Floating Storage and Regasification Units (FSRUs) with a supply capacity of at least 1,400 mmcfd.
Petrobangla directors AKM Mizanur Rahman and Engineer Md Rafiqul Islam detailed the activities and initiatives of Petrobangla's subordinate companies during the seminar. Also, the Chairman of the Forum for Energy Reporters Bangladesh (FERB), Shamim Jahangir, highlighted the media's role in ensuring energy security in the country.
Petrobangla director AKM Mizanur Rahman shared financial updates, stating that Petrobangla has managed to clear all external outstanding Liquefied Natural Gas (LNG) payments two months ahead of the scheduled deadline of June 30. He reported that the overdue balance was zero as of April 30, 2025, and payments remain up to date. Rahman also noted that the outstanding bills for power and fertilizer categories were reduced from Tk. 20,362.49 crore in December 2024 to Tk. 17,487.90 crore, thanks to effective coordination between the ministry and Petrobangla.
Rahman explained that the average acceptable due ranges from Tk. 12,000 crore to Tk. 13,000 crore, given that Petrobangla serves eight categories of clients nationwide. The company typically sells gas to clients at Tk. 5,200 crore to Tk. 5,800 crore per month. He also highlighted technical/system losses leading to financial losses of Tk. 3,789.50 crore in FY2023-2024 and Tk. 3,285.73 crore up to March 2025.
The International Development Association (World Bank) has offered a $700 million guarantee facility, which will be accessible in two tranches starting in November 2025 and November 2026. Petrobangla has formed a consortium with three international and five Bangladeshi banks to utilize this facility, which is expected to result in annual savings of Tk. 128 crore, or Tk. 256 crore when the entire $700 million is activated.