Bangladesh plans 150 new gas wells and new LNG terminals

Prime Minister Tarek Rahman has announced a comprehensive plan to mitigate gas shortages in the industrial sector by increasing domestic production and expanding LNG infrastructure. During a session in the National Parliament, the Prime Minister detailed a target to drill 150 new wells by the 2030-2031 period. This initiative includes conducting 4,500 line kilometers of 2D seismic surveys and 4,200 square kilometers of 3D seismic surveys.

To bolster energy security, the government is working on establishing a new floating LNG terminal in Kutubdia, Maheshkhali, expected to be operational by 2028, and a land-based LNG terminal in Matarbari, targeted for completion by December 2030. Additionally, feasibility studies are underway for another floating terminal at Payra, Mongla, or other strategic coastal locations.

On the international front, an international bidding round was launched on May 24 for oil and gas exploration in 26 offshore blocks, with a submission deadline set for November. To attract foreign investment for onshore exploration, the government is also developing the ‘Bangladesh Onshore Model PSC-2026’.