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Nasrul Hamid announces Ilisha-1 as 29th gas field for the country

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Ilisha-1

In a significant development, the Ilisha-1 gas field in Bhola district has been officially declared as the 29th gas field of Bangladesh.

The State Minister for Power, Energy, and Mineral Resources, Nasrul Hamid, made the announcement during a press briefing held at his residence in Dhaka on May 22, 2023. This newly discovered gas field is anticipated to hold an estimated reserve of 200 billion cubic feet (bcf) of gas, contributing to the overall reserve of 3 trillion cubic feet (tcf) in the Bhola region.

Expressing enthusiasm over the discovery, Minister Nasrul Hamid described it as excellent news for the nation. Located approximately 182 kilometers away from the capital city Dhaka, the Ilisha-1 gas field was excavated in the Maler Hat area of the Ilisha union under Bhola Sadar upazila. The drilling process, which commenced on March 8, concluded successfully on April 24 after reaching a depth of 3,475 meters through the Drill Stem Test conducted in three levels.

Minister Nasrul Hamid disclosed that gas had been previously found in various wells within the Bhola north and Bhola south structures. As part of a strategic plan, efforts are underway to construct a pipeline that would transport gas from the Bhola area to Dhaka, addressing the persistent gas shortages faced by numerous industries. Currently, a pre-feasibility study has been conducted, with a comprehensive feasibility study in progress. The Minister estimated that it would take approximately three years to complete the pipeline project.

To initiate the gas supply, a private company has already signed a contract to transport 25 million cubic feet per day (mmcfd) of gas from Bhola using large trailers, starting with an initial volume of 5 mmcfd. Additionally, the government aims to establish a pipeline network encompassing Bhola, Barishal, and Dhaka, as well as another network connecting districts in Dhaka, Sylhet, and other regions.

The commercial value of the gas reserves in Bhola is estimated at Tk 6500 crore in the local market and Tk 26000 crore when considering the value of imported gas. Minister Nasrul Hamid highlighted that the declaration of the Ilisha-1 gas field’s discovery followed meticulous drilling operations and related activities.

Presently, Bangladesh produces around 2300 mmcfd of gas from 22 existing gas fields, while an additional 700 mmcfd is imported to meet the demand of approximately 4000 mmcfd, leaving a deficit of approximately 1000 mmcfd. Despite this, two gas fields in Bhola possess a combined production capacity of around 200 mmcf, with the actual production ranging between 80-85 mmcf. Consequently, there remains an unused surplus capacity of approximately 120 mmcf across eight wells in the Shahbazpur and Bhola gas fields.

Due to the absence of adequate pipeline and transmission facilities, the surplus gas from the Bhola field has not been able to be supplied to energy-intensive industrial zones in Dhaka and other areas. The discovery of the Ilisha-1 gas field signifies a crucial step towards addressing the energy needs of the country and bolstering its industrial sector, heralding a promising future for Bangladesh’s energy landscape.

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Economy

FBCCI Urges Action Against Unscrupulous Traders

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FBCCI

The Market Monitoring Committee of FBCCI has urged the concerned market committees to be vigilant in preventing traders from engaging in dishonest practices to earn additional profits.

Md Amin Helaly, Senior Vice-President of FBCCI and Convener of the Market Monitoring Committee, issued this call during a meeting of FBCCI’s Market Monitoring Committee with local market committee leaders at Mohammadpur Town Hall Katcha Market in the capital on Wednesday.

Addressing the meeting as the chief guest, Helaly emphasized the importance of identifying and punishing dishonest businessmen and their associates.

He urged the collection of reports on dishonest traders and their submission to FBCCI, stating, “We will take stringent action against them in collaboration with the government.”

Helaly stated that FBCCI is closely monitoring the market to ensure stability during Ramadan, emphasizing the federation’s role in this regard as a representative of the private sector.

He remarked, “Our efforts will continue in coordination with various government agencies. However, consumers also need to adjust their purchasing habits. Market activities for a month should be more balanced than those on any single day.”

Directors of FBCCI and members of the Bazaar Monitoring Committee were also in attendance at the meeting.

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US Stresses Collaboration with Bangladesh on Key Issues: Blinken

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Blinken

US Secretary of State Antony Blinken extends congratulations to the people of Bangladesh on their Independence Day, March 26.

Blinken, on behalf of the United States, sends warm wishes to all Bangladeshis on this significant occasion.

In a statement, Blinken expresses the United States’ eagerness to bolster the partnership and people-to-people connections between the two nations in the coming year.

“The United States takes pride in collaborating with Bangladesh on various critical issues of today, including combating climate change, promoting economic development, addressing the Rohingya refugee crisis, supporting global peacekeeping efforts, and tackling global health challenges,” he remarks.

Highlighting the partnership’s role in ensuring a free, open, secure, and prosperous Indo-Pacific region, Blinken emphasizes its significance.

“As Bangladesh marks another year of independence, we reiterate our dedication to strengthening democratic governance and safeguarding human rights – endeavors crucial for Bangladesh’s continued prosperity,” he affirms.

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China-Bangladesh Friendship Strengthened, Notes President Xi Jinping

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Xi Jinping

Chinese President Xi Jinping has emphasized the robust and deep-rooted political trust between Bangladesh and China, along with their productive collaboration across various sectors, yielding tangible benefits for both nations.

Xi Jinping highlighted Bangladesh’s steadfast commitment to independence over the past 53 years, its efforts in economic development, and improvements in livelihoods, laying a strong foundation for the realization of the “Sonar Bangla” dream.

In celebration of Independence Day, Xi Jinping conveyed his congratulations to Bangladesh President Mohammed Shahabuddin through a letter.

He underscored the longstanding friendship between China and Bangladesh as traditional neighboring nations, noting its continual strengthening.

Xi Jinping expressed his keen interest in advancing the China-Bangladesh relationship and pledged cooperation with President Mohammed Shahabuddin to further enhance high-quality Belt and Road Cooperation and deepen the Strategic Partnership of Cooperation between the two countries.

Simultaneously, Chinese Premier of the State Council Li Qiang and Member of the Political Bureau of the CPC Central Committee and Foreign Minister Wang Yi extended separate congratulatory messages to Prime Minister Sheikh Hasina and Foreign Minister Hasan Mahmud respectively.

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