Bangladesh seeking Saudi assistance in energy security

Bangladesh seeking Saudi assistance in energy security

DHAKA: Dhaka is seeking Riyadh’s help in improving energy security and establishing clean sources of power.

Reliant on imports of natural gas liquefied, Bangladesh has struggled with an energy crisis that has become acute over the past few months as the country tries to meet its increasing energy needs.

Since mid-July, the government has been forced to implement regular power outages amid the high global prices caused by the war between Russia and Ukraine. Industries are forced to stay idle for hours each day due to the lack of power needed to run their operations.

At the beginning of October, eighty percent of Bangladesh’s population of 168 million was without power following an electrical grid malfunction caused by more than one-third of the country’s gas-powered devices running out of fuel.

If representatives of the Bangladeshi government participate in the 14th Joint Commission meeting in Riyadh in October. 30-31 they will advocate cooperation in the energy sector.

In the wake of the power crisis that has led to rising costs for production in Bangladesh, the Bangladeshi industry is trying to move towards cleaner alternative energy resources. These solutions are not easy to achieve and require technical know-how as well as a large investment.

Saudi Arabia has inspired many nations with its initiatives to shift away from dependence on fossil fuels. Bangladesh will be looking at possibilities of cooperating in this area.

“We are keen on renewable energy that is clean. Some proposals made by our KSA side are being made to Bangladesh and are at various phases of discussion. We will also be discussing the same at the Joint Commission meeting,” Norman stated. “We are hoping to sign some MoUs.”

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Energy experts believe that long-term deals signed during the summit could help Bangladesh create reserves for energy security and build strategic reserves.

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