The New Nation - Internet Edition

bdnews24.com, Dhaka

Bangladesh will be free from power and energy crisis by the next three years, says the prime minister's energy adviser.

"This government runs is term through to 2014, but we hope to resolve the crisis by the end of 2012," Toufiq-e-Elahi Chowdhury told reporters on Friday after inaugurating the International CNG Fair at the Bangabandhu International Conference Centre. He also informed the media about a government initiative to import LNG (liquefied natural gas).

"We are also adopting other alternative sources like solar energy and nuclear power," added Chowdhury.

Meanwhile, the chief of the state oil and gas corporation says that they would increase the gas reserve significantly by the next two years.

"We would also double the production [of gas] within two years," Hossain Mansoor, the chairman of Petrobangla, told journalists.

Earlier, speaking at the inaugural ceremony, the premier's adviser stressed efficient use of resources like gas as the country is facing a severe shortage in the wake of soaring demand.

"But the [CNG conversion and refuelling] industry needs to pay more attention to promote the safety issues among the users."

He also asked the stakeholders to verify whether the widespread use of CNG qualifies Bangladesh for Carbon credit.

Carbon credit is a permit that allows the holder to emit one ton of carbon dioxide. Credits are awarded to countries or groups that have reduced their greenhouse gases below their emission quota.

Carbon credits can be traded in the international market at their current market price.

The four-day CNG fair, the second of its kind, is being participated by at least 100 local and foreign companies, according to the organisers.

Fifty local companies along with enterprises from 20 countries will be showcasing their machinery and products that are run on CNG (condensed natural gas).

A statement by the organisers says that there are 130 CNG conversion centres and about 500 refueling stations in the country catering about 1.72 lakh automobiles.

The sector has already seen investments worth Tk 2,000 crore and is helping the country to save US $ 1 billion annually in fuel costs, reads the statement.

The country produces 3500-4200MW against a daily demand for 4000-5200MW on average, according to government estimates.

Energy-starved Bangladesh turned its clocks an hour ahead to introduce Daylight Saving Time for 'an extra hour of daylight' to save power.

Prime minister Sheikh Hasina had promised before the Dec 29 general elections to address the power crisis.

The decades-old power plants are mostly fuelled by gas, but the reserves are depleting, officials said. The country faces a shortage of up to 250 million cubic feet of gas a day.

The government has temporarily closed down several fertiliser manufacturing plants to divert the natural gas they use to generate more electricity.

Frequent power failures cut the country's gross domestic product by around $1 billion annually, the World Bank has said.

The country would need $1.5 billion annual investment for power generation and transmission, and natural gas exploration.

The power sector is reeling from severe crisis as no considerable power has been added anew to national grid in recent times.

Uninterrupted use of power depends on weather as power outage increases if temperature is low or it rains.

However, power outage starts if temperature is high.