Speakers at a discussion on Saturday emphasized an urgent shift toward imported Liquefied Natural Gas (LNG), solar power, and energy-efficient technologies to sustain industries and employment as domestic gas production declines by 100 MMCF per year.
They made the remarks at a roundtable discussion titled ‘The Future of Energy in Bangladesh,’ organized by Bangladesh Chamber of Industries (BCI) on Saturday (May 9) at its Motijheel office. The event was held in collaboration with Bangladesh Sustainable and Renewable Energy Association (BSREA) and the Greentech Foundation.
“The era of cheap labor and inexpensive gas, once the primary drivers of Bangladesh’s industrial growth, has come to an end. With domestic gas production declining at a rate of 100 MMCF (million cubic feet) per year, an urgent shift toward imported LNG, solar power, and energy-efficient technologies is needed,” they opined.
Speaking as the chief guest, Dr. Hossain Zillur Rahman, Executive Chairman of the Power and Participation Research Centre (PPRC) and former advisor to the caretaker government, emphasized the need to move beyond traditional thinking to ensure energy security.
"We must embrace innovative ideas, particularly land-based FSRUs (Floating Storage and Regasification Units) and the use of energy-efficient machinery," Dr. Rahman said.
He further identified a lack of coordination as a major hurdle and proposed the formation of a Public-Private Partnership (PPP) Monitoring Cell to observe and manage the energy situation effectively.
BCI President Anwar-ul Alam Chowdhury Parvez highlighted that since 2022, the advantage of low-cost energy has vanished. He stressed that energy remains the most critical factor for maintaining industrial operations and creating jobs.
"Neither the businesses nor the government wants industries to shut down," Parvez noted.
He urged stakeholders to present specific technical proposals to the government to find a sustainable path out of the current crisis.
The keynote paper was presented by Shafiqul Alam, Lead Analyst at the Institute for Energy Economics. The discussion also featured insights from:
David Hasanat, President of the Bangladesh Independent Power Producers Association (BIPPA), Enamul Haque Khan, Senior Vice President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Mostafa Al Mahmud, President of BSREA, among others, spoke in the event.
The speakers collectively agreed that a collaborative approach between the government and the private sector is essential to implement sustainable energy solutions and protect the nation's economic backbone.