Bangladesh Ministry Assures No Fuel Oil Shortage, Gas Issues to Be Resolved Soon
The Ministry of Energy and Mineral Resources in Bangladesh has stated that there is no crisis of fuel oil in the country and that any rumors to the contrary are false. Joint Secretary Monir Hossain Chowdhury addressed the nation from the secretariat, providing details on current fuel reserves. As of Wednesday, the country has 31 days of diesel, 36 days of octane, 20 days of petrol, 25 days of furnace oil, and 20 days of jet fuel in stock. These reserves are reportedly higher than normal, with an additional 180,000 tons of diesel expected by July 31 and another 240,000 tons in August, ensuring no fuel oil shortage for at least the next 48 days.
However, the ministry acknowledged a temporary gas shortage affecting industrial factories, power plants, CNG stations, and residential consumers. This is due to a technical fault in one of the country's floating LNG terminals (FSRU), which has reduced gas supply to the national grid by approximately 450 million cubic feet per day. This has led to long queues at some CNG stations and temporary inconvenience. Monir Hossain expressed optimism that the situation is temporary and will be resolved within two to three days as repair work is underway. He also noted that while fuel oil supply is unaffected, the gas deficit, currently around 1,000 to 1,100 million cubic feet per day, is a long-standing issue that the government is working to reduce.
The ministry's press release highlighted that while the immediate cause of the gas shortage is the FSRU's technical issue, the prolonged reliance on imports has exacerbated the situation. Insufficient domestic gas exploration and production in the past have increased dependence on imported LNG, making the national gas supply system vulnerable to disruptions. To address this long-term dependency, the government is implementing short, medium, and long-term initiatives, including a plan to drill 100 new gas wells. A project to drill three new wells in Begumganj (Noakhali) and Sunamganj at a cost of 729 crore taka was recently approved by the Executive Committee of the National Economic Council (ECNEC).
The Ministry of Energy and Mineral Resources' communication addresses two distinct issues: the absence of a fuel oil shortage and a temporary gas supply disruption. By emphasizing ample fuel oil reserves and the transient nature of the gas problem, the government aims to quell public anxiety and prevent panic-driven behavior, such as the observed rush at fuel stations in Rajshahi. The acknowledgement of a gas deficit, however, points to a systemic vulnerability stemming from over-reliance on imported LNG, a situation exacerbated by past underinvestment in domestic exploration. While immediate repairs are underway, the underlying challenge of import dependency requires sustained strategic investment in local production and infrastructure to ensure long-term energy security and mitigate future supply chain risks. The government's stated initiatives, including well drilling, signal an awareness of this structural issue and a commitment to diversification, though the success of these plans will depend on effective execution and sustained funding over the coming years.
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