Bangladesh's Gas Reserves May Last Only a Decade

Bangladesh’s existing recoverable gas reserve of 16.36 trillion cubic feet (Tcf) is likely to last only a decade.

Financial Express citing industry experts said that if no new gas fields are discovered, country’s industrial and economic growth could be severly hampered.

"The country urgently requires necessary exploration and drilling activities to increase overall natural gas output," Professor Nurul Islam of Bangladesh University of Engineering and Technology (BUET) said Tuesday, Financial Express reported.

Currently, Bangladesh's natural gas output is hovering around 2.28 billion cubic feet (Bcf) per day against the demand for 2,700-3,000 Bcf. But with an estimated annual demand growth of 10 per cent the country's entire recoverable gas reserve is set to dry up by 2022, the newspaper said.

There are currently 20 producing gas fields, 15 state-owned and five operated by the international oil companies.

Experts also suggest that like offshore blocks, governmet should also open onshore blocks for global companies.