Bangladesh seeks more energy deals with Indonesia
Bangladesh is seeking more cooperation with Indonesia in the energy sector, especially for the supply of liquefied natural gas (LNG) to support its growing industrial sector, Bangladeshi State Minister for Power and Energy Nasrul Hamid said in Jakarta on Wednesday.
“We have a number of gas fields, but [the gas] has begun to deplete, so we need huge gas supply for our growing industry, as we’re now the second-largest garment exporter,” he said at the Gas Indonesia Summit and Exhibition 2019 in Jakarta.
He added in his opening speech that the country had invested US$25 billion in the energy sector over the last six years and planned to invest more in the future.
He said that, at present, Bangladesh had two floating storage regasification units (FSRU) to receive LNG imports.
Bangladesh, a country of more than 160 million people, may import 17.5 million tons of LNG a year by 2025, as its domestic gas reserves are dwindling and demand grows.
The minister believes that, besides supporting its garment industry, the country also needs more LNG from abroad to boost other growing sectors, such as the vegetable industry.
“We want to learn more about your technology and your resources, especially on coal and LNG supply,” he said, without disclosing the potential import volume.
Indonesian Energy and Mineral Resources Minister Ignasius Jonan concurred that gas demand was growing but said its utilization should be efficient and environmentally friendly.
“Technology is growing, the market is growing, like Bangladesh said. However the stakeholders should consider how to use the gas in an efficient manner and be ready for new competition from different kinds of energy,” he said.