Bangladesh should prioritise building strategic fuel reserves alongside improving energy efficiency to address its ongoing energy crisis, energy expert Dr Ijaz Hossain has said.
Speaking at a roundtable organised by the Dhaka Chamber of Commerce and Industry on Thursday, the former professor of Bangladesh University of Engineering and Technology said the country continues to face a significant gas shortfall.
He noted that gas production has dropped to below 2,700 million cubic feet per day (mmcfd), while demand has risen to around 4,000 mmcfd, leaving a gap of roughly 1,300 mmcfd. “This clearly shows that we are still in an energy crisis,” he said.
Hossain emphasised the need to build a strategic national reserve, suggesting that maintaining even 45 days of fuel stock would be a major step forward, despite the 90-day benchmark often cited internationally. He said such reserves could also help manage price volatility by allowing the country to buy fuel when prices are low and use it when prices rise.
On renewable energy, he cautioned against overestimating its capacity, noting that solar power is intermittent and storage solutions remain costly. Drawing on examples from India and Pakistan, he said integrating large volumes of renewable energy into the grid presents practical challenges.
He stressed that achieving net-zero emissions would require a broader approach, with greater emphasis on energy efficiency and conservation.
Hossain also criticised inefficiencies in industrial energy use, urging businesses to invest in alternative energy sources, captive power generation and waste-to-energy solutions rather than relying heavily on government support.
Highlighting the scale of investment needed, he said adding 10,000 megawatts of power capacity could require up to $15 billion, calling for stronger private sector participation.
“We talk a lot during crises but tend to forget once the situation improves. We need to focus on long-term, sustainable solutions,” he added.