The Power, Energy, and Mineral Resources Ministry has drafted a proposal concentrating on Prime Minister Sheikh Hasina’s imminent visit to Beijing, proposing seven US $ 1 billion projects that might be funded by China.
Responding to a question during a news conference at the Bangladesh Secretariat on Thursday, State Minister Nasrul Hamid stated that the plan has been given to the Government for finalisation.
The Prime Minister is set to visit China from 8th-11th July. The Foreign Ministry has requested that ministries submit suggestions for initiatives that could be begun with finance from China.
According to Nasrul Hamid, six of the seven projects involve the development of power transmission facilities in various parts of the country, including underground ones.
“We have prioritised a parallel gas transmission project under G2G (government to government arrangement) which will transmit gas from two ‘to be built’ FSRUs (floating storage and regasification units) in Moheshkhali,” he said.
He also said the Government has been working on ensuring uninterrupted gas supply from 2027.
“In 2027, the gas demand will be around 6,000 mmcfd (million cubic feet a day) in the industry and power sectors, which is now 3,500 mmcfd,” said Hamid.
“Two more FSRUs will be established by then to import more gas. We have our 46 gas wells and have drastic plans to explore another 100 wells. Gas will come from the shallow sea by this time as well,” he said.
He stated that the Ministry has applied to invest in gas well drilling, and that gas exploration will cost between US $ 2.5 and US $ 3 billion.
“It is profitable for us. If we spend around US $ 20 million in a well, we will find gas worth US $ 400 million at least,” he said.
Regarding offshore exploration, he stated that 17 businesses have expressed interest, with six purchasing survey data. The deadline for submitting recommendations may be extended because they would need more time to analyse the data, he said.
