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TL;DR
- Bangladesh discovers massive 5.109 trillion cubic feet (tcf) of recoverable gas reserves in Bhola, valued at approximately Tk6.5 lakh crore, according to a joint study by Gazprom and Bapex.
- The discovery, the largest since the Bibiyana gas field in 1998, could potentially produce up to 920 million cubic feet of gas per day (mmcfd) and help ease the country’s gas crisis.
- Plans are underway to connect Bhola’s gas to the national grid through pipelines and transport gas to Dhaka using LNG and CNG methods, with tenders for these projects to be available soon.
- Despite the significant discovery, experts caution against relying solely on Bapex for exploration and suggest joint exploration with Petrobangla and foreign companies to effectively boost domestic gas production.
Bangladesh’s Bhola district has seen a massive potential gas reserve discovery, with a joint study by Russian energy giant Gazprom and the Bangladesh Petroleum Exploration and Production Company Limited (Bapex) indicating up to 5.109 trillion cubic feet (tcf) of recoverable gas. The study, which began in 2020 and concluded in June 2024, involved a 600 square kilometre 3D seismic survey from Shahbazpur to Elisha and a 152.6-line-km 2D seismic survey in Char Fasson.
The findings suggest a 10% chance of discovering 2.423tcf of gas in Shahbazpur and Elisha, and 2.686tcf in Char Fasson. At the current LNG spot market price of $10.46 per million British thermal unit (MMBtu), this gas reserve is valued at approximately Tk6.5 lakh crore. The report also indicates a 50% chance of finding 3.391tcf and a 90% chance of discovering at least 1.809tcf.
This discovery is the largest since the Bibiyana gas field was found in 1998. Muhammad Amirul Islam, a researcher involved in the study, stated, “This research meets international standards and relies on seismic data, oil lock data, core samples, and advanced technology like supercomputers and top-quality labs.”
Petrobangla Chairman Janendra Nath Sarkar revealed plans to connect Bhola’s gas to the national grid with pipelines running from Bhola to Barisal and then from Barisal to Khulna. The company also aims to transport gas to Dhaka using LNG and CNG methods.
Currently, Bhola has 5 wells producing 80 million cubic feet of gas per day (mmcfd). Four more wells are ready, potentially adding another 80mmcfd, and 5 proposed wells could supply 100mmcfd within two years. There are also 14 other well sites that might produce 210mmcfd. In Char Fasson, six geological structures have been identified where 30 wells could be drilled, potentially producing 450mmcfd. If all these wells become operational, daily production in Bhola could reach 920mmcfd.
Geologist and energy expert Prof Badrul Imam emphasized the need to speed up drilling operations in Bhola and prioritize building the gas pipeline. However, he cautioned against relying solely on Bapex for exploration, suggesting that joint exploration with Petrobangla and foreign companies would be more effective in boosting domestic gas production.
Bangladesh’s daily gas demand is about 4,000mmcfd, but only 2,633mmcfd is supplied, creating a shortfall of 1,367mmcfd. The country relies heavily on imported LNG to address this deficit. However, the closure of one of Summit’s floating LNG terminals for over three months has reduced LNG supply by 500mmcfd, worsening the gas shortage for industries and power plants.
Various sectors, such as gas-based industries and CNG filling stations, are facing severe disruptions due to the gas shortage. The potential gas exploration in Bhola could help alleviate these problems and reduce Bangladesh’s dependence on expensive LNG imports.
Source: TBS News
