Experts warn that overproduction from the Bibiyana gas field in Habiganj is causing a major drop in pressure which could prematurely block its ability to produce gas.
As this is the largest gas field in production in Bangladesh, the country cannot risk its lifespan being shortened by technical hazards caused by overproduction.
The premature closure of the offshore Sangu gas field has already shown us the damage that can be done to gas production by extraction rates exceeding sensible limits.
Following Chevron’s $500m expansion project the government agreed last year to revise extraction rates at Bibiyana to over a third higher than the original production sharing contract rate of 7.5% of confirmed reserves. Petrobangla officials report however that even this higher extraction rate is occasionally exceeded.
The government needs to urgently ensure expert attention to ensure proper safeguards are respected to prevent vital supplies being interrupted.
More importantly, it needs to cut subsidies and raise the price of gas. International companies will be more willing to avoid overproduction and invest in new gas fields if prices are raised to enable higher returns.
Increased revenue from gas sales could also be used to buy meters to help deter wasteful behaviour by households which leave the gas burning all day just to save matchsticks.
Only by cutting out waste can we secure the future investment we need in more reliable, secure and sustainable power supplies to allow industries to plan for growth without fear of interrupted connections.