QUEST FOR ENERGY SECURITY IN BANGLADESH: CHALLENGES AND PROSPECTS

This article examines the critical quest for energy security in Bangladesh, analyzing the formidable challenges and the future prospects. It provides a detailed overview of the country's energy sector, highlighting its overwhelming dependence on a single source, natural gas, and the growing gap between energy demand and supply. The study explores the major challenges, including the depletion of known gas reserves, the inefficiency of the power sector, and the lack of a diversified energy mix. The research then assesses the various prospects and policy options for enhancing energy security. These include accelerating the exploration for new oil and gas reserves, developing the country's coal resources, investing in renewable energy, and pursuing regional energy cooperation, such as the import of hydropower from Nepal and Bhutan. The paper argues that ensuring long-term energy security requires a comprehensive and integrated national energy policy. The analysis concludes that this is one of the most critical development challenges facing Bangladesh.

Energy security is the lifeblood of a modern economy, and for Bangladesh, this has become a challenge of critical national importance. This paper provides a comprehensive analysis of the country's quest for energy security. The first part of the study is a detailed diagnosis of the problem. It presents data on the rapidly growing demand for energy, driven by economic and population growth, and contrasts this with the stagnating supply, particularly of natural gas, which is the backbone of the country's power generation. The paper analyzes the severe consequences of this energy deficit, including crippling power shortages (load-shedding) that hamper industrial production and daily life. The core of the article is an exploration of the prospects and policy options for a more secure energy future. It provides a detailed assessment of the potential for both domestic and regional solutions. Domestically, it examines the imperative of stepping up gas exploration, the controversial issue of coal mining, and the long-term potential of renewable energy sources. Regionally, it makes a strong case for proactive energy diplomacy to facilitate the import of electricity from the vast hydropower resources of its Himalayan neighbors, Nepal and Bhutan. The findings lead to a clear conclusion: Bangladesh must move away from its almost total reliance on domestic natural gas and pursue a diversified energy strategy. The paper concludes by calling for the urgent formulation of an integrated national energy security policy to guide this critical transition.