Photo: Messenger
Due to the depression in the Bay of Bengal, seaports have been asked to show local danger signal number 3. As a result, liquefied natural gas (LNG) supply from the floating terminal has been interrupted, which has cut 1,000MW power generation.
Consequently, load-shedding has increased in different parts of the country amid extreme heat. An official of Petrobangla said that the LNG supply situation may remain like this till next Monday.
Md. Kamruzzaman Khan, Director (Operations & Mines) of Petrobangla, told The Daily Messenger, “Due to cyclone alert, we have cut LNG supply to the grid. I hope this supply will be normal by Monday.”
He added, “As power plants consume gas from the grid, so due to lack of gas supply, power generation will be interrupted. But we have plans to manage the situation as much as possible.”
According to Coast Guard sources, the low pressure formed in the southwest Bay of Bengal is expected to gradually transform into a cyclone.
On Saturday from 10am, an hour-long publicity campaign was held in various areas of Patuakhali.
Meanwhile, low pressure in the Bay of Bengal has reduced LNG supply by 1,000 million cubic feet due to inclement weather. In this, the ongoing gas crisis in power plants, industries and residential units has become acute as the regasification terminal in the sea. Due to cyclone, LNG terminal may be disconnected from the processing plant.
The Department of Meteorology said that the low pressure formed in the southwest Bay of Bengal area is getting stronger and approaching Bangladesh. It is likely to move further north-eastwards and become Cyclone 'Remal' today. If it turns into a cyclone, there is a danger of wreaking havoc around several districts in the southern part of the country. The cyclone is likely to hit this afternoon.
LNG supplies from two deep-sea LNG terminals (FSRUs) at Maheshkhali have been curtailed to prevent accidents. Petrobangla reported that LNG supply fell to 108 million cubic feet from 380 million cubic feet Friday night.
Supply may decrease further if the storm gets stronger. This has reduced gas pressure in various areas, including Chattogram and Dhaka. Due to the reduction in gas supply, electricity production has decreased by about 1,000MW.
Currently, the demand for gas per day is 420 million cubic feet. Petrobangla is supplying 310 crore cubic feet. Of this, 108 million cubic feet is available from imported LNG. Already, gas pressure in households and industries has been cut and load-shedding has increased in the country, including Dhaka city.
The government has made a master plan for 2050 estimating $300 billion focusing on LNG import and set a goal to achieve 8.6 per cent GDP growth, though experts consider the master plan as an imprudent one.
Experts think currently, the government is suffering for paying outstandings against imported fuels. Moreover, globally, the fossil fuel crisis has turned severe that has increased prices as well. So, in this situation, this import-based plan will make the economy more vulnerable.
According to the plan, in 2041, the demand for electricity has been estimated at 50,364MW. Against this demand, the production capacity has been asked to be increased by 74,300MW, which is 47 per cent more than the demand.
Professor Shamsul Alam, Energy Adviser of Consumers Association of Bangladesh (CAB), told The Daily Messenger the plan is an ambitious one and the estimation will not comply with the reality.
“During the 13 years, the government could fetch only $30 billion foreign investment. As a result, thousands of crores of taka have been wasted every year for idle power plants. The government is not able to pay the electricity and gas dues,” he said, adding electricity prices are increasing again and again. Referring to the new master plan as unrealistic, he said if this master plan is implemented, the country's economy will fall further into the abyss.
The government imported 40 cargoes of costly LNG from the spot market in June 2023 to meet the growing demand for natural gas. Of this, eight LNG cargoes will be bought from the pricier spot market. Bangladesh was purchasing LNG from the spot market between $6-10 per MMBtu.
Petrobangla has been provided of Tk 23,500 crore as subsidy during the last five years. The budget for the last financial year included an allocation of about Tk 6,000 crore for LNG. Petrobangla wrote a letter to the Finance Division recently, mentioning that its loss amounted to Tk 25,500 crore from 2019 to May this year and it now needs the loan to foot LNG import bills. Due to price hike of LNG in spot market and inflation, over Tk 7,800 crore will be added.
Messenger/Disha
