A technical fault at one of the country's floating LNG terminals (FSRU) has reduced gas supply to the national grid by around 450 million cubic feet per day (MMCFD), causing low gas pressure in several parts of the country.
The government, however, said it is working on a priority basis to resolve the problem and restore normal gas supply as quickly as possible, according to a press release issued by the Ministry of Power, Energy and Mineral Resources on Wednesday.
The ministry said gas supply from the affected FSRU to the national grid has been temporarily suspended. As a result, industrial units, power plants, CNG stations and other consumers are experiencing low gas pressure.
In some areas, CNG stations have been unable to supply the required amount of gas, leading to long queues and temporary inconvenience for consumers.
The ministry said technical experts and relevant agencies are working continuously to fix the fault at the FSRU. Meanwhile, efforts are underway to ensure gas supply to priority sectors through the best possible management of the limited supply.
According to the government, while the immediate cause of the disruption is the technical fault at the FSRU, the impact has been intensified by the country's long-term dependence on imported LNG.
It said insufficient emphasis on domestic gas exploration and production in the past increased reliance on imported LNG, making the national gas supply vulnerable whenever import infrastructure faces disruptions.
To address the issue, the government has undertaken short-, medium- and long-term initiatives to boost domestic gas exploration and production. As part of the plan, 100 wells will be drilled in phases.
The ministry also noted that the Executive Committee of the National Economic Council (Ecnec) on Wednesday approved a Tk729 crore project to drill three gas wells in Begumganj and Sunamganj.
According to the press release, initiatives are also underway to attract local and foreign investment through onshore and offshore production-sharing contracts (PSCs) to strengthen gas exploration.
However, the ministry said gas exploration, well drilling, infrastructure development and commercial production require time. As a result, the long-term energy supply crisis cannot be resolved immediately despite ongoing efforts.
The government has also taken several measures to strengthen energy security, including inviting bids for a fourth FSRU, assessing the feasibility of importing LNG from Malaysia through ISO tanks, reviewing pipeline and other transport options to bring Bhola gas to the mainland, drilling new wells, carrying out workover operations at existing wells, and diversifying energy import sources and infrastructure.
The ministry said it is closely monitoring the gas supply situation and expects supplies to improve once the technical problem at the FSRU is resolved.