Natural gas and petroleum in Bangladesh

[1] However, the country faces an acute energy crisis in meeting the demands of its vast and growing population.

[1] The energy sector is dominated by state-owned companies, including Petrobangla and the Bangladesh Petroleum Corporation.

[5] Geologists believe the country's maritime exclusive economic zone holds one of the largest oil and gas reserves in the Asia-Pacific.

[6] Protectionism and a lack of technical capacity have impeded Bangladesh's potential to emerge as a major global hydrocarbon producer.

[7] The International Islamic Trade Finance Corp has signed a $1.4 billion agreement to cover Bangladesh's oil imports.

Petrobangla accelerated exploration activities in 1980s and discovered nine major gas fields; and also established the first commercial oil facility in Haripur in 1986.

[11] In 1974 the government awarded seven shallow water offshore blocks on the continental shelf of Bangladesh to six international oil companies.

The victory of Bangladesh over Myanmar in securing maritime territory in the Bay of Bengal has increased the number of exploratory blocks in the Exclusive Economic Zone to 27.

Due to the energy crisis in recent years, Bangladesh has planned to import gas from Qatar to meet demands in the short-term.

The country's first LNG Terminal will be built in Matarbari, Cox's Bazar for imports and will be a floating facility.