Govt drilling 150 more gas wells, to get 3 new LNG terminals

The government plans to drill another 150 gas wells and set up three new LNG terminals to increase the country’s energy supply, said Prime Minister’s Office Spokesman Mahdi Amin.

A programme to drill 150 new wells across the country has already begun as part of a medium-term plan to find a permanent solution to the gas crisis, he said at a press conference yesterday to mark seven months of the BNP-led government.

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In the next phase, work will begin to drill another 150 wells.

The government also plans to add three floating storage and regasification units to the two existing facilities to increase the country’s LNG handling capacity. Efforts are underway to make the third terminal operational before 2028, if possible.

As part of the long-term plan to ensure energy security, the government is also expanding the capacity of Eastern Refinery in Chattogram. Around $1 billion in international financing has been secured for the project and work has already begun.

Gas flow has increased significantly after Prime Minister Tarique Rahman’s assurances to leaders of trade bodies on Monday, Mahdi said, adding that the positive trend is expected to continue in the coming days.

He described global credit ratings agency Moody’s decision to revise Bangladesh’s credit outlook from “negative” to “stable” after two years as “good news”.

It signals greater stability for investment and could support foreign investment, trade, employment and job creation for women and young people, said Mahdi, also an adviser to the PM.

Citing Bangladesh Bureau of Statistics data, Mahdi said inflation is moving in a positive direction compared with the same period last year and the previous month. Inflation has declined, while the pace of increases in food and other commodity prices has also slowed, he said.

The government has taken a series of initiatives for public welfare and state reform, dividing its priorities into seven broad areas.

These areas include youth empowerment; education and information technology innovation; overall public welfare and improvement of living standards; advancement of women; universal welfare and social protection; environment-friendly energy and climate-resilient industrialisation; modern health infrastructure and public health; transport infrastructure and traffic management; and institutional good governance, public diplomacy and foreign relations.

The government is creating opportunities for around 10,000 Bangladeshi workers each year to migrate legally to Italy after completing language and technical training.

New opportunities have also been created for Bangladeshi workers in Oman’s agriculture and modern fishing sectors following the removal of restrictions in the country’s labour market, he said.

The government has successfully dealt with pressure from foreign loans, taken much-needed administrative reform measures, worked to ensure corruption-free services, brought improvements to the education and health sectors, and strengthened Bangladesh’s position in diplomacy.

These achievements would further strengthen Bangladesh’s journey towards becoming a respected, self-reliant, knowledge-based and democratic state, he added.

People will see better results if they remain patient, said Press Secretary Saleh Shibly.

The government is working sincerely to ensure relief and security in public life, he said, adding that people have started to feel that they are the owners of the state.