Bangladesh has called for greater foreign investment in its energy sector as the country seeks to enhance energy security and support its growing economy.
Speaking at the Baku Energy Forum 2026 in Azerbaijan, Power, Energy and Mineral Resources Minister Iqbal Hassan Mahmood Tuku highlighted the need for substantial investment in energy infrastructure to meet rising demand driven by industrialisation and economic expansion.
According to a press release issued on Thursday, Iqbal Hassan Mahmood made the call during the Ministerial Plenary Session on International Cooperation for a Resilient and Diversified Energy Future held on 1 June. He said the government remains committed to a “Bangladesh First” strategy, with energy security, affordability and sustainability forming the core of its development agenda.
The minister invited international investors to participate in a range of energy projects, including onshore and offshore hydrocarbon exploration, the development of a land-based liquefied natural gas (LNG) terminal, construction of a second oil refinery, and expansion of renewable energy generation.
He noted that Bangladesh launched a new offshore bidding round last month, which will remain open until November 2026. The government has revised fiscal and commercial terms to make investment opportunities more attractive and encourage greater participation from global energy companies.
Iqbal Hassan Mahmood also underscored the importance of renewable energy in Bangladesh’s future energy mix, reiterating the government's target of generating 10,000 megawatts of electricity from renewable sources by 2030.
Addressing representatives from D-8 member states, he stressed the value of cooperation in the hydrocarbon sector, saying oil and gas would continue to play a crucial role in ensuring reliable and affordable energy supplies.
He further expressed Bangladesh’s interest in learning from countries with extensive experience in renewable energy development and carbon market mechanisms, while encouraging investors with expertise in clean energy to explore opportunities in Bangladesh.
