Natural gas and petroleum in Bangladesh

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Natural gas in Bangladesh
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ONGC[5] are major international companies engaged in Bangladesh's hydrocarbon industry, with Chevron's gas fields accounting for 50% of natural gas production.[6]

Geologists believe the country's maritime exclusive economic zone holds one of the largest oil and gas reserves in the Asia-Pacific.[7] Protectionism and a lack of technical capacity have impeded Bangladesh's potential to emerge as a major global hydrocarbon producer. Two LNG Terminal and a gas pipeline will be created to ease the Bangladesh gas shortage.[8]

The International Islamic Trade Finance Corp has signed a $1.4 billion agreement to cover Bangladesh's oil imports.[9]

History

Eastern and southern Bangladesh, as well as the Bay of Bengal, are rich in gas deposits.

The Indo-Burma Petroleum Company drilled the first oil wells in Eastern Bengal between 1908 and 1914 in

Shell Oil Company and Pakistan Petroleum discovered seven major gas fields in the 1960s.[11]

After the

Unocal in Bangladesh in 2005.[12]

Offshore exploration

In 1974 the government awarded seven shallow water

Cairn Energy and Santos
operated the offshore Sangu gas platform.

Since 2009, the Bangladeshi government has launched bidding rounds for awarding

Exclusive Economic Zone to 27.[7]

According to

Dhaka University professor, [14]
Bangladesh is neither floating on gas or about to run out of it, rather Bangladesh's gas fields are unexplored which can be a major source of local gas supply.

Geography

The

Bengal delta has a hydrocarbon-bearing sediment structure with rich mineral deposits. The northeastern Sylhet Division is the country's largest natural gas and crude oil producer, followed by Chittagong Division, Dhaka Division and Barisal Division; while dozens of offshore blocks lay in the Bay of Bengal. Natural gas from Bangladesh is renowned for being very pure with a composition of 95–99% methane and almost no sulphur.[10]

Industry

See also: List of oil and gas companies of Bangladesh

As of 2015, the natural gas reserves of Bangladesh is 14.16 trillion cubic feet.[15] The country has an average daily natural gas production of around 2,700 million cubic feet.[16]

The

Bibiyana gas field in Habiganj District is the country's largest gas field. Oil production in 2013 was 4,500 bbl/d against a demand of 119,000 bbl/d.[2] The downstream
sector in Bangladesh remains relatively under-developed.

LNG Terminal on Maheshkhali Island in the future.[2]

Compressed Natural Gas
(CNG) is widely used by vehicles in Bangladesh.

The

petroleum products through its subsidiaries: the Jamuna Oil Company which is the country's largest distributor and was established in 1964 as Pakistan National Oil Limited; the Padma Oil Company which was formerly known as Burmah Eastern Limited, a subsidiary of Burmah Oil until 1977;[17] and Meghna Petroleum.[18]

See also

References

  1. ^ "Natural Gas Production by Country - Worldometer". www.worldometers.info. Retrieved 21 March 2022.
  2. ^ a b c d e U.S. Energy Information Administration (EIA)
  3. ^ ConocoPhillips, Statoil awarded deep-sea gas exploration deal in Bangladesh
  4. ^ Gazprom hits more gas in Bangladesh – Pipeline Magazine
  5. ^ ONGC signs contracts to explore for oil, gas off Bangladesh | Reuters
  6. ^ "Archived copy" (PDF). Archived from the original (PDF) on 22 January 2016. Retrieved 17 April 2015.{{cite web}}: CS1 maint: archived copy as title (link)
  7. ^ a b Bangladesh: Asia’s New Energy Superpower? | The Diplomat
  8. ^ "Summit to build 3rd LNG floating storage, regasification unit in Moheshkhali". The Business Standard. 22 December 2021. Retrieved 21 March 2022.
  9. ^ "International Islamic Trade Finance Corp signs $1.4 billion deal to fund Bangladesh oil imports". The Business Standard. 9 July 2023. Retrieved 14 July 2023.
  10. ^ a b c d Gas, Natural – Banglapedia
  11. ^ a b c ":: Petrobangla". Archived from the original on 9 August 2016. Retrieved 17 April 2015.
  12. ^ Chevron completes Unocal deal; purchase spells end of 115-year-old oil company – bdnews24.com
  13. ^ a b "Google".
  14. ^ Imam, Badrul (21 May 2021). "Is Bangladesh running out of gas resources?". The Daily Star. Retrieved 1 April 2022.
  15. ^ "Gas reserve to last until 2031". The Daily Star. 28 June 2015. Retrieved 3 May 2016.
  16. ^ Chee Yew Cheang (4 April 2016). "Petrobangla, Excelerate Sign Agreement to Build Bangladesh's First FSRU". www.rigzone.com. Retrieved 3 May 2016.
  17. ^ Padma Oil Company Limited-The Leading Oil and Petroleum Marketing Company in Bangladesh
  18. ^ Meghna Petroleum Limited
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