To prevent an energy crisis during the conflict, the administration has implemented a number of measures. It has already paid more for two shipments of LNG on the spot market.
Additionally, companies are paying more to import liquefied petroleum gas (LPG). In addition, the Ministry of Power, Energy, and Mineral Resources and the cabinet have released a number of energy-saving directives.
Sources at the Energy and Mineral Resources Division say there is no reason for panic regarding the energy situation. The country has not run out of fuel oil reserves. Considering the war situation, supply has been reduced by 10 per cent.
Many people are reportedly buying and stockpiling diesel, creating fear among consumers over a potential shortage. Petrol stations are allowed to store fuel, but monitoring has been intensified to prevent the creation of an artificial crisis.
According to sources at the Bangladesh Petroleum Corporation (BPC), about 98,000 tonnes of diesel have been sold over the past four days, compared with 55,000 tonnes during the same period last year.
Currently, around 181,000 tonnes of diesel are in stock. Although delayed, several diesel shipments are expected to arrive next week.
Over the past four days, petrol sales reached 9,380 tonnes, compared with 6,480 tonnes during the same period last year. Octane sales were about 8,000 tonnes, up from 5,247 tonnes last year. However, there are no concerns about petrol and octane reserves, as these are also produced domestically.
Power, Energy and Mineral Resources Adviser Iqbal Hassan Mahmood told Prothom Alo yesterday that there is currently no fuel shortage in the country. He said, considering the global situation, precautionary measures have been taken in advance. Supply has been reduced slightly.
At the same time, fuel is being purchased from alternative sources even at higher prices. Everyone has been asked to be economical in its use. The private sector is also being supported in importing LPG, he added.
Sources at Petrobangla say global fuel prices have been rising daily since the war began. Countries including China, Japan and several European nations are competing to secure fuel supplies. Meanwhile, LNG supply from Qatar has been halted.
Two cargoes that were scheduled to arrive from Qatar on 15 and 18 March will no longer be delivered because the country has suspended LNG shipments.
To prevent a gas shortage, daily gas supply has been reduced by 200 million cubic feet. However, two LNG cargoes were secured from the spot market on Wednesday. Singapore-based Vitol Asia will supply one cargo at USD 24.50 per unit on 20 March, while Gunvor will deliver another on 17 March at USD 28 per unit. Before the war began, LNG was being purchased at around USD 10 per unit. Petrobangla believes this will help maintain gas supply throughout the current month.
*
Email *
Website
