An Overview on LNG Business and Future Prospect in Bangladesh
Science Journal of Energy Engineering
Volume 3, Issue 5, October 2015, Pages: 40-45
Received: Nov. 21, 2015; Accepted: Nov. 29, 2015; Published: Dec. 16, 2015
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Authors
Saiful Islam, Department of Petroleum & Mining Engineering, Shahjalal University of Science and Technology, Sylhet, Bangladesh
A. T. M. Shahidul Huqe Muzemder, Department of Petroleum & Mining Engineering, Shahjalal University of Science and Technology, Sylhet, Bangladesh
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Abstract
Bangladesh is characterized by both relatively high growth rates in population and expanding economies and a deficiency in domestic fossil fuel energy. Growing population and expanding economies are main causes of increasing energy demand. This study provides an overview of global liquefied natural gas (referred as LNG) technologies, business as it currently exist and examines the future potential growth in this market. In addition, this study examines the prospects for Bangladesh in this sector and the factor behind this potential entry. Over the last fifteen years, world trade in LNG is more than tripled and it is anticipated that this market will continue its rapid expansion with the technological development to meet the demand for energy. The current consumers of LNG are mainly to be found among the energy hungry economies of South East Asia as well as the western European countries. It also expected to exhibit the highest future growth rate, given the underlying economic growth of the countries found in this region and their burgeoning demand for energy. In Bangladesh, natural gas is the main source of energy that accounts for 75% of the commercial energy of the country. Most of the industries and power generation plants are driven by natural gas. Bangladesh currently produces about 2250 million cubic feet per day (mmcfd) natural gas with a shortage of about 450 mmcfd. To overcome this shortage initiative should be taken to find an alternative new source of energy such as- importing LNG, production of coal and renewable energy. For the immediate solution of this problem LNG would be good option but for long term solution all other options should take under consideration to secure the future demand of energy.
Keywords
LNG, Demand, Supply, Bangladesh
To cite this article
Saiful Islam, A. T. M. Shahidul Huqe Muzemder, An Overview on LNG Business and Future Prospect in Bangladesh, Science Journal of Energy Engineering. Vol. 3, No. 5, 2015, pp. 40-45. doi: 10.11648/j.sjee.20150305.11
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Copyright © 2015 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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