A fire at one of Bangladesh's two offshore import terminals has disrupted liquefied natural gas shipments, worsening gas shortages and hit power generation across the country.
Power, Energy and Mineral Resources Minister Iqbal Hassan Mahmood confirmed on Monday that the floating terminal suffered damage roughly a week ago, leaving two gas ships unable to unload off the coast.
Speaking at an energy policy roundtable in Dhaka, the minister stated that repairs are underway and expected to take up to fifteen days to complete.
The disruption has caused low gas pressure in residential homes, while industrial factories and gas-fired power stations face operational shutdowns.
Many power plants sit idle due to fuel shortages, though the state must still make capacity payments to private power producers.
Minister Iqbal Hassan Mahmood highlighted heavy financial pressures on foreign exchange reserves, noting that fuel imports have cost three point six five billion dollars over the past six months.
He added that inherited unpaid energy debts totalling 56,000 crore taka continue to strain state finances alongside monthly subsidy costs.
To lessen dependence on costly imported fossil fuels, the government has set a target to add 10,000 megawatts of renewable power over the next five years.
The policy framework will promote utility-scale solar parks and private rooftop solar installations connected directly to the national grid.
Land allocation for solar developments will begin in August, with plans to integrate battery storage technology to cover evening peak demand.
At the same event, Major General A N M Muniruzzaman (Retd), President of the Bangladesh Institute of Peace and Security Studies, urged a shift towards complete energy sovereignty.
He stated that domestic gas reserves are falling, leaving the economy vulnerable to global price swings and geopolitical shocks.
He called for a diversified energy network to insulate the country from external risks and support long-term economic stability.
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