Home » Politics: Bangladesh » >Coal, new gas to help avert looming acute energy crisis

>Coal, new gas to help avert looming acute energy crisis

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>“WHAT should Bangladesh do when oil price hits a $200 per barrel mark?” Sharier Khan has some thoughts. (Read full report)
Already battered by $100 plus price of imported petroleum, the government should prudently take some brave and quick steps to ensure energy security of the country, energy experts believe.
A readjustment of retail price of imported petroleum is not enough to face the deep energy crisis ahead, they noted.
Bangladesh Petroleum Corporation (BPC) has already sought Tk 6,800 crore from the government to subsidise losses from oil imports just for the period July to December this year. The government already swallowed many thousand crores of taka in losses for costly oil import and the BPC still owes different banks more than Tk 7,000-8,000 crore.
Combined with the power load shedding and gas supply crunch, the $200 a barrel situation will push the BPC and the country into an abyss, experts say.
Goldman Sachs Group earlier this month forecast that oil prices would reach $150 to 200 a barrel within two years. Oil price is already hitting $128 per barrel and the price has surged some 25 percent since the beginning of this year, when it crossed $100 a barrel for the first time. It now seems unbelievable that even in 1995-96 oil price hovered around $12 to 15 a barrel.
According to experts in Petrobangla, the BPC and oil companies, the government should prepare to face the inevitable. It should not waste time in taking steps to better utilise its condensate resources–which is a by product of natural gas– to produce both petroleum and liquefied petroleum gas.


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