The government is planning to drill 150 gas wells and establish three to four new liquefied natural gas (LNG) terminals to boost the country’s gas supply, Finance Minister Amir Khosru Mahmud Chowdhury said on Monday.
Speaking at a discussion titled ‘Sustainable Power and Energy: Driving Investment in Bangladesh’ organized by the Foreign Investors' Chamber of Commerce and Industry (FICCI) at a city hotel, he outlined several key economic and energy initiatives.
To increase solar power generation, the government is offering tax waivers and incentives while encouraging rooftop solar installations on homes and industrial buildings.
Surplus electricity generated from these rooftop systems will be purchased at premium rates to help meet solar energy targets, Khosru noted.
He highlighted that efforts are being intensified to expand renewable energy usage and step up both onshore and offshore gas exploration.
As part of these measures, the government has taken steps to strengthen the Bangladesh Petroleum Exploration and Production Company Limited (BAPEX).
Alongside contract-based exploration, approval has been granted to procure equipment for BAPEX to drill 150 wells directly.
To address ongoing fuel shortages, three to four new floating storage regasification units (FSRUs) are planned with participation from private investors in South Korea, China, and the United States.
In addition to Matarbari, a new deep-sea site near Khulna has been identified to establish a modern energy hub capable of directly unloading oil and LNG from large vessels.
Turning to economic governance, the minister announced structural reforms in revenue administration, the banking sector, and the capital market aimed at reducing business costs.
As part of these reforms, the National Board of Revenue (NBR) will be split into two separate divisions—one for policy formulation and another for implementation—to curb corruption and eliminate conflicts of interest.
Unnecessary regulatory restrictions are also being eased to streamline operations for existing investors and attract new capital.
Khosru emphasized that ensuring energy security remains vital amid global economic instability and geopolitical tension in the Middle East.
To draw foreign capital into the capital market, the government is moving to establish a dedicated equity-based investment fund for Bangladesh on the Hong Kong stock exchange.
He added that recent discussions with top Wall Street investors in the United States are expected to yield significant international inflows into Bangladesh's stock and bond markets.
Expressing optimism for the future, Khosru stated that the energy sector and broader economy will stabilize within a reasonable timeframe before transitioning toward rapid growth.
Financial Mirror/AH
