Prospects of Liquefied Gases in Bangladesh Economy as a move towards
Fuel Diversification
Abstract
Traditional dependence on fossil fuel has led to the Economy of
Bangladesh being confined to energy shortages, marginalizing the
development prospects of this energy South Asian economy. The country
has also relied heavily on its indigenous supply of natural gas
particularly for electricity generation purposes. However, following in
appropriate subsidized pricing of natural gas in the country has led to
over exploitation of this resource and together with technical
inefficiencies holding back new natural gas field discovery has pushed
the nation towards running out of this energy resource by 2031. Thus,
the aim of this paper is to discuss the prospects of liquefied gaseous
use in Bangladesh, especially in the form of LNG and LPG, as a strategy
to embrace fuel diversification within the Bangladesh economy in order
to relieve the existing pressure on natural gas demand.