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Government officials and energy experts are currently assessing the long-term impact of these international tensions. Today’s session was focused on ensuring the stability of the power sector and securing the supply chain for daily necessities amidst global uncertainty.

https://www.businesstimes-bd.com/national/4974

I wonder if this is why we saw the massive buying volume yesterday? 🤷‍♂️

PM chairs special meeting on energy situation

A special meeting on measures to address the country’s energy situation was held on Wednesday (March 25), chaired by Prime Minister Tarique Rahman.

According to Deputy Press Secretary Zahidul Islam Rony, the meeting took place at the Cabinet Division office at the Secretariat in Dhaka.

The prime minister arrived at the Secretariat at 9:02am and attended to several official duties before the meeting. Earlier in the morning, he also unveiled a commemorative postage stamp marking Independence Day of Bangladesh.

Following the ceremony, the premier presided over the meeting titled “Steps to Address the Energy Situation,” where officials discussed possible measures to manage the current fuel supply challenges.

https://viewsbangladesh.com/pm-chairs-special-meeting-on-energy-situation/

Bangladesh has sought additional funds from the IMF as surging global energy prices, driven by the US-Israel war on Iran, threaten to deplete the country’s dollar reserves.

At the time of filing the report, Brent crude prices were up almost 4 percent to just below $104 a barrel as Iran launched fresh strikes. Before the US-Israel strikes on Iran began on February 28, global oil prices were trading at $66 to $72 a barrel.

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Since then, Bangladesh has purchased seven LNG cargoes from the international spot market at more than double the normal price as long-term supplier Qatar called force majeure.

of March 12, gross foreign exchange reserves stand at $29.64 billion, enough to meet about five months’ imports.

https://www.thedailystar.net/news/bangladesh/news/bangladesh-seeks-additional-imf-funds-energy-imports-4134841

This is why they can no longer afford to ignore Phulbari and using their own resources!!!!

Bangladesh faces $4.8b surge in annual energy import bill

https://www.thedailystar.net/business/economy/news/bangladesh-faces-48b-surge-annual-energy-import-bill-4134686

Bangladesh’s annual fossil fuel import bill is projected to soar by $4.8 billion, a 40 percent increase from 2025 levels, due to the Middle East crisis, according to a new analysis by Zero Carbon Analytics (ZCA).

The financial shock of oil, gas, and coal prices will cost the equivalent of 1.1 percent of Bangladesh’s 2024 gross domestic product if current elevated levels hold for a year. The country spends roughly $12 billion annually on energy imports, according to government data.

It’s a 1.2 million buy at 8.50, which would have been at full ask ….

Nice

https://www.londonstockexchange.com/stock/GCM/gcm-resources-plc/company-page

Over the last week or so, we have had some massive trades, of over 1 million plus in size, and then this morning we’ve had trades of 500k, 400k, 350k, 250k etc etc, with still another 500k sitting waiting to be taken on level 2. Volume today now siting at 5.4 million so far, this is obviously large compared to daily volume we’ve had for a while…..

With not much change in the SP, it’s my assumption, that there are now much bigger forces and games at play here than just Pi’s, so it’s either someone knows of incoming news, or there is institutional interest…. imo.

We’ve always said that when this happens many games will be played that we can’t explain, other than the fact I personally believe that it’s the MM PEEL who are in total control and getting these orders filled ….

If there was ever a question mark over the project previously, with everything that is going on in the world right now, Bangladesh has never had a better reason to give Phulbari the Green light, so it’s now or never, and these games and volume cement in my mind that positive news is on its way….

Take your choice …..

GL all

Really good article, and just shows what the real situation is in Bangladesh!!

The last ships have sailed: Bangladesh stands at the edge of an energy abyss

https://www.tbsnews.net/thoughts/last-ships-have-sailed-bangladesh-stands-edge-energy-abyss-1392981

This is not a forecast. It is a countdown.

Qatar, which supplies roughly one-fifth of the world's LNG, has halted exports following the blockade of the Strait of Hormuz and devastating Iranian missile strikes on the Ras Laffan processing complex. The Financial Times reported this week that ship-tracking data shows only one LNG cargo from the Gulf is still scheduled to reach Asia, which ordinarily absorbs nearly ninety per cent of the region's output. The IEA has confirmed that supplies from Qatar and the UAE have already dropped by over 300 million cubic metres per day since the beginning of March. What arrives in the next ten days is the last inventory of a supply line that may not reopen for months, and possibly longer.

Another 500K delayed at 8.40, ... Volume up to 4 million...

For all these 500K buys on the Level 2 book, and to suddenly have such large volume today, i wonder if we will see some news leaking out in the press later ;)

Looks like the 500K just paid up, at 8.35..

Volume at 3.2

Buying above the ask at 8.45, so i'd expect another tick up soon :)

Sorry, hopefully this link will work

https://dailycountrytodaybd.com/story/end-of-eid-holidays:-govt-offices,-banks,-and-share-markets-to-reopen-tomorrow

Back to work tomorrow, so hopefully won’t be to long before some positive news starts to flow through … 🤞

End of Eid Holidays: Govt offices, banks, and share markets to reopen tomorrow

The week-long vacation for Eid-ul-Fitr, the largest religious festival for Muslims, concludes today (March 23), and government offices, courts, banks, insurance companies, financial institutions, and stock markets will reopen tomorrow (March 24).

https://dailycountrytodaybd.com/story/end-of-eid-holidays:-govt-offices,-banks,-and-share-markets-to-reopen-tomorrow

Finally the message is getting through!

Global fuel crisis raises concern for power generation, industries in Bangladesh

Finding diverse fuel sources and maximizing domestic resources have now become the most urgent priorities for the nation's economic surviva

https://www.dhakatribune.com/amp/business/406031/global-fuel-crisis-raises-concern-for-power

2.1 million volume, so trading picking up.... Another 350,000 delayed from 2.03pm, that's probably the trade that ticked us up ;)

Tarique, BNP, really have no options other than to mine the country’s own coal, the fastest option is obviously Phulbari, and it’s not something that they are any longer going to be able to hang about and take their time over making a decision!

World could face worst energy crisis in decades, IEA chief warns

The war in the Middle East could see the world face its worst energy crisis in decades, International Energy Agency chief Fatih Birol warned on Monday (23 March), describing the situation as "very severe".

"Many of us remember the two consecutive oil crises in the 1970s... at that time, in each of the crises, the world has lost about five million barrels per day, both of them together, 10 million barrels per day," Birol told the National Press Club in Australia's capital.

"As of today, we lost 11 million barrels per day, so more than two major oil shocks put together," he said.

https://www.tbsnews.net/world/global-economy/world-could-face-worst-energy-crisis-decades-iea-chief-warns-1392481?amp

Can’t remember if this has been posted or not

ENERGY SECURITY DEPENDS ON DOMESTIC GAS, COAL

https://ep-bd.com/view/details/article/MTI3OTA%3D/title?q=energy+security+depends+on+domestic+gas%2c+coal

Global coal rally threatens to raise Bangladesh’s power costs

https://www.reddit.com/r/bangladesh/comments/1s0fihk/global_coal_rally_threatens_to_raise_bangladeshs/

'Plant officials said that while Indonesian coal prices have not yet risen sharply, freight and premium charges have increased significantly. Vessels for coal imports are also becoming scarce, they added.

A senior official at a state-run coal-fired plant, speaking on condition of anonymity, told Bonik Barta that Indonesian coal prices are beginning to climb. “The freight rate for coal imports is rising at an abnormal rate,” he said. “A month ago, the freight rate was $15 a tonne; now we have to negotiate at $21 a tonne. With premiums added, costs will rise and impact power generation.” '

Coal up at £145.20 this morning

“Global coal prices haven’t yet risen significantly. But freight and premium charges have increased sharply. We’ll discuss these issues with the Power Division after the Eid holiday and then make a decision.”

https://en.bonikbarta.com/business/p8a51WARwl39rRkq

Asia turns to coal as Iran war rapidly shrinks supplies of gas

War in the Middle East is forcing Asia to turn to coal to plug the gaping hole emerging in its supply of liquefied natural gas (LNG).

Nations from South Korea to Indonesia and Bangladesh are prioritising coal as a power source, as the intensifying conflict upends gas supplies from a key exporting region. Among the worst hit countries is Qatar, home to the world’s biggest LNG export facility that Asian customers rely on.

Its Ras Laffan plant has suffered extensive damage after a sharp escalation of attacks on energy infrastructure across the Persian Gulf. As the global gas market buckles under pressure from surging prices, Asian nations are seek alternatives.

That means doubling down on their mainstay fuel – coal.

“Coal is already the dominant fuel in Asia’s power mix, making up well over 40 per cent to 50 per cent across the region, and it has long been more cost-competitive than gas,” said Mr Sam Chua, analyst at Rystad Energy AS. “But what is accelerating now is gas demand destruction,” he said. “LNG is simply unaffordable for price-sensitive buyers.”

The clearest example is Bangladesh, which has curtailed gas to power plants and fertiliser producers, and is using coal-fired capacity as a replacement, said Mr Chua.

https://www.straitstimes.com/asia/asia-turns-to-coal-as-iran-war-rapidly-shrinks-supplies-of-gas