Bangladesh energy report

Update: April 2024
Format: 3 files (PDF report, 2 Excel files)

Pages: 34 (Report only)
Delivery: Immediate by e-mail

Table of Contents

GENERAL OVERVIEW
INSTITUTIONS AND ENERGY POLICY
ENERGY COMPANIES
ENERGY SUPPLY
ENERGY PRICES
ENERGY CONSUMPTION
ISSUES AND PROSPECTS
DATA TABLES
ABBREVIATIONS
GLOSSARY

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Overview

This analysis includes a comprehensive Bangladesh energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With 2022 market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.

Highlights

In its updated NDC, the country aims to reach a capacity of 4.1 GW of renewables in 2030 (half of which from solar) and a 7% reduction in GHG emissions.
Private companies own half of the electricity capacity.
Chevron is the main gas producer, with around 50% of total output.
The large gas resources are not well developed and are insufficient to meet the growing demand.
Gas dominates the power mix (63% in 2022).
Energy prices are controlled and subsidised by the Government.
Energy consumption is increasing two times slower than the economic growth.
Natural gas supplies almost 60% of the primary supply.
The country targets a tripling of power capacity by 2040.
In 2021, the Government cancelled 10 coal-fired power plants totalling around 9 GW.

63%

share of gas in the power generation mix (2022)

-7%

emission reduction target in 2030

-2 pts

share of T&D losses since 2010

Institutions & Energy Policy
The Ministry of Power, Energy and Mineral Resources (MPEMR) is responsible for the energy sector. Its Power Division is responsible for power-related policies, while the Energy and Mineral Resources Division is responsible for gas, petroleum products and coal.
The Ministry of Finance approves the investments in the energy sector.
Energy Companies
Oil:
Petrobangla (Bangladesh Oil, Gas and Mineral Corp) is the national fuel company. It is involved in all oil, natural gas and coal exploration/production projects. Petrobangla operates via several subsidiaries, of which 3 for oil and gas E&P (1 for oil and 2 for gas), 1 for gas transmission, 6 for gas distribution, 1 for LNG, 1 for CNG & LPG, and 1 for coal mining.
Energy Supply
Gas:
Natural gas production has been declining slightly since a peak at 28 bcm in 2017 and reached 24 bcm in 2022 (-3%/year on average). It increased rapidly until 2016 (5%/year over 2010-2017).
Energy Prices
Oil:
Fuel prices are controlled by the Government and are not adjusted on a regular basis. Gasoline prices dropped by 19% between 2014 and 2019 and were quite steady until 2021, at which point they increased by 16% to US$1.22/l in 2022 and remained stable in 2023. Prices for diesel decreased slightly over 2014-2020 (-2.7%/year) and then increased by 23% in 2022 and by 11% in 2023 to US$1.09.
Energy Consumption
Energy consumption per capita is 0.29 toe, including around 570 kWh of electricity (2022).
The country's overall energy consumption has increased by around 3% per year between 2016 and 2022, reaching 50 Mtoe in 2022; this is two times lower than GDP growth. The progression is almost two times slower than over 2010-2016.
Issues & Prospects
Gas:
The Vision 2021 Plan reported a 50% probability of discovering new gas reserves of 32 Tcf (906 bcm).

GRAPH 1: CO₂-energy Emissions (MtCO₂)
GRAPH 2: Installed electric capacity by source (2022, %)
GRAPH 3: Gross power production by source (TWh)
GRAPH 4: Power generation by source (2022, %)
GRAPH 5: Gasoline & diesel prices (US$/l)
GRAPH 6: Electricity prices for industry and households (US$c/kWh)
GRAPH 7: Consumption trends by energy source (Mtoe)
GRAPH 8: Total consumption market share by energy (2022, %)
GRAPH 9: Final consumption market share by sector (2022, %)

Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO₂ emissions.
Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.

The Bangladesh energy market data since 1990 and up to 2022 is included in the Excel file accompanying the Bangladesh country report.
It showcases the historical evolution, allowing users to easily work with the data.

Key Data included in the excelsheet:

Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO₂ emissions.
Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
Energy Balance: total and per energy.
Bangladesh Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Bangladesh energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO₂ emissions (from fuel combustion).