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Nice 400k buy at 8.34 in the UT to start the day off :)

Interesting read .....(the whole article is on coal)

Global coal rally threatens to raise Bangladesh’s power costs

Coal-fired power plants account for 26 percent of Bangladesh’s electricity generation capacity, and rely almost entirely on imported fuel. Analysts expect the higher import costs to push up generation costs at those plants.

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

Shafiqul Alam

I’ll say it again: we made a massive mistake by failing to extract coal from Phulbari, Dighipara, and Jamalganj. While the extraction would have been technically challenging, we never had the luxury of prioritizing environmental idealism over energy security. We’ve forfeited tens of billions in revenue and taken a sustained hit to our balance of payments. We forgot that we were -- and still are -- a poor country. Heeding leftist rhetoric was a multi-billion dollar blunder—one that becomes more obvious with every global geopolitical crisis.

https://www.facebook.com/shafiqul.alam.71216/posts/ill-say-it-again-we-made-a-massive-mistake-by-failing-to-extract-coal-from-phulb/35463458073244981/

How ironic, after being one of the main people behind not using the countries own resources, and specifically Phulbari, has Anu now done a complete UT 🤔

According to Anu Muhammad, the energy sector has, over the past two decades, become increasingly dependent on imports, foreign companies and external loans.

“If this trend continues, Bangladesh will remain vulnerable to any global instability,” he warned.

https://bdnews24.com/bangladesh/4d313e0be4bd

Fuel supply holds steady despite import concerns

In addition, amid the rise in prices of fuel and liquefied natural gas in the global market, the government has been increasing dependence on coal for electricity generation.

According to Argus Media, a London-based energy and commodity analyst, the amount of imported and arriving coal in March stood at 1.5 million tonnes.

Besides, Bangladesh has bought a small amount of coal from South Africa this time, in addition to typical imports from Indonesia. About 608,000 tonnes of Indonesian coal has been discharged in Bangladesh this month so far, alongside 55,000 tonnes from South Africa.

A further 837,000 tonnes of coal from Indonesia is scheduled to arrive in Bangladesh over the rest of March, according to preliminary fixtures. Coal prices are also increasing following the Middle East conflict, with the latest 5,000 kcal/kg priced at $72.46 per tonne, up from $69.60 per tonne.

Power Grid Bangladesh data shows power demand has dropped to between 11,000 megawatts (MW) and 12,000MW as the Eid holiday started, down from between 13,000 MW and 14,000MW.

Of the total, 4,500MW is coming from coal, which is nearly on par with gas-fired power generation.

https://www.thedailystar.net/news/bangladesh/news/fuel-supply-holds-steady-despite-import-concerns-4132356

War in the Middle East drives Asia back to coal

The conflict with Iran has disrupted gas supplies through the Strait of Hormuz, doubling prices in Asia. From Bangladesh to Japan, governments are reopening coal-fired power plants to contain costs, postponing, at least for now, the energy transition.

https://www.asianews.it/news-en/-War-in-the-Middle-East-drives-Asia-back-to-coal-65064.html#google_vignette

That's some nice buying creeping through this morning.... Must be due a tick up soon ;)

Fuel shortages force daytime power cuts across country

BPDB records show that the country's power plants cannot operate at full capacity because of gas shortages, while coal supplies are also insufficient to run all coal-fired plants.

"Electricity generation from gas-fired plants has dropped to about 4,700 MW, and we cannot run coal-based plants at full capacity due to shortages," a BPDB official said. "We are being forced to impose 200-300 MW of daytime load-shedding due to the fuel crisis."

https://observerbd.com/news/569728

While its quiet, I just thought I’d put a few points down about how we stand right now, and what the next buying / selling signals will be.

I believe that the last couple of weeks, as a new government bedding in, all the Power and Energy Ministers time would have been taken up just trying to resolve the energy problems that the country has smacking it in the face today and for the coming weeks, but slowly, that now seems to be resolving its self in the best way that they can, so the time is coming to move on to how they are going to solve the energy issue in the medium to long term. This is obviously going to be a discussion about all types of energy, coal, solar, gas, LNG, oil, wind nuclear etc etc, but the one that we are interested in, “Coal / Phulbari / open pit mining” I believe will be one of the first topics on the agenda, and there are specific reasons for this imo.

The government I am sure are fully aware of the fact that giving the green light to Phulbari will mean that they have the potential of mining their own coal within two years, and that financially it will not only help their Forex reserves, but will also not cost them to take the project forward, unlike many of the other energy projects, so Phulbari has to be very favourable. We know in their election campaign that the BNP said that they were going to open pit mine their own coal, as well as being in their manifesto, so now it’s just about timing…..

• Ramadan / EID ends 23rd / 24th March

• Interim results due before the end of March, (I am sure the write up will be more positive than normal).

• China visit to Bangladesh at the beginning April.

• The 100 day action plan to be announced

• The 180 day priority roadmap plan to be announced

• It has been reported that the 100 and 180 day plans will be announced anytime after EID has ended and that they do include energy projects.

Feel free to add to the list, but now it just a case of seeing what unfolds in the coming few weeks, but with the war in Iran the BNP, really are now running out of time and options ….

GL all

Just wanted to thank digit for his research and the posts below…..

From tonight’s news, it looks like we will be hearing about the BNP,s thoughts and plans on the country using their own coal any time after EID then …..

Looks like March is going to be an interesting month 🤔

Again, posted by digit

Power Puzzle

In addition, he emphasized the importance of starting construction of the Maheshkhali–Dhaka gas pipeline to ensure the transport of re-gasified LNG (RLNG).

Decision on Domestic Coal

Finally, experts emphasize that the government must make a clear decision regarding the exploration, extraction, and use of domestic coal resources. Domestic coal could play a significant role in reducing import dependence.

Mining engineer and energy expert Dr. Mushfiqur Rahman told Energy & Power that although attracting investment in coal projects has become more challenging in the current global context, it is not impossible.

However, he stressed that the government must first decide whether Bangladesh intends to develop its coal resources. If not, the government should clearly communicate this decision as soon as possible.

The Ministry of Power, Energy, and Mineral Resources is finalizing its 180-day action plan, expected to be announced after Eid. Restoring financial discipline, reducing costs, securing fuel supply, and improving governance are at the forefront.

Experts emphasize that immediate measures to stop gas losses, control expenditures, and consult civil society and business leaders are critical. Broad political consensus will be essential for the plan’s success.

If implemented effectively, this 180-day roadmap could transform Bangladesh’s power and energy sector into a transparent, sustainable, and people-focused system.

https://ep-bd.com/view/details/article/MTI2OTU%3D/title?q=power+puzzle

Nice

Again, thanks to digit….

URGENT 180-DAY PRIORITIES FOR ENERGY REFORM

BNP’s Vision 2026 outlines medium- to long-term reforms. However, to reassure citizens in the immediate term, the following priorities are recommended for the first 180 days:

* Launch extensive 2D seismic surveys followed by 3D surveys in frontier onshore areas.

* Expedite the 50- and 100-well drilling programs and evacuate stranded gas from Bhola Island to the national grid.

* Initiate a special drilling project in Chattak and accelerate exploration in the Chittagong Hill Tracts.

* Launch fresh PSC bidding rounds for onshore and offshore blocks by June 2026, supported by proactive petroleum diplomacy to attract major IOCs.

* Fast-track the fourth FSRU and a land-based LNG terminal; review the canceled third FSRU contract and suspended RLNG import negotiations.

* Review gas utilization strategy and prioritize supply for value-added sectors such as efficient power plants, fertilizer, and industry.

* Finalize decisions on domestic coal exploration and utilization.

* Reform the administrative structure of Petrobangla companies, integrate exploration, drilling, and production into a single entity, and restructure large distribution companies such as TGTDCL.

* Review salary and compensation structures in the gas sector and introduce performance-based incentives.

https://ep-bd.com/view/details/article/MTI2OTY%3D/title?q=urgent+180-day+priorities+for+energy+reform

Nice

Posted by digit

CURBING CORRUPTION ESSENTIAL TO MAKE ENERGY SECTOR PEOPLE-FRIENDLY

Gas should no longer bear the sole burden as the country’s primary energy source. To reduce overdependence on gas, work must begin on the exploration, extraction, and utilization of domestic coal resources. Although the BNP initiated efforts to extract local coal during its previous term, those initiatives were not successful. This time, however, it is essential to begin work from the outset.

Above all, a clear and specific policy framework must be finalized to eliminate inefficient gas use across all sectors.

Currently, more than 56 percent of the country’s power and energy supply depends on imports. As a result, fuel supply costs are tied to volatile global market prices. There is no alternative to reducing import dependence. What steps should the government take regarding domestic gas and coal exploration?

Significant success in this sector cannot be achieved within the government’s 180-day program. However, the action plan during this period must include a coordinated strategy to reduce import dependence by accelerating domestic gas and coal exploration and utilization. At the same time, urgent measures must be taken to expand renewable energy development.

We must remember that our domestic energy resources are not unlimited, so imports will remain necessary. However, by prioritizing the maximum use of local resources, we can at least slow the growth of import dependence.

https://ep-bd.com/view/details/article/MTI3MzI%3D/title?q=curbing+corruption+essential+to+make+energy+sector

the article is interesting to see how yunus ****ed up the economy, although we already knew that, but reading the part of the article with the header

“financial benefits taken by dr yunus” just shows how well he personally benefited from being at the head of the interim government….. quite damming report if true!

economic debacle in bangladesh during yunus's regime

https://www.news18.com/amp/opinion/opinion-economic-debacle-in-bangladesh-during-yunuss-regime-ws-l-9950948.html

And also not forgetting the proposed 2000 MW Solar Power Park to go along with that!!

😂😂 No mate, I was referring gas not coal…. Sorry for the confusion

I know it’s going to take some time to actually achieve now, but it’s no wonder that Bangladesh are hoping and talking about using their own gas reserves as well as coal …..

The country’s leaders, must now be sitting there really frustrated that Yunus did not make decisions on developing own gas and coal while he was in power…..

They are certainly going to suffer now for his lack of decision making!!!!

Gas crisis shuts down 5 of 6 major urea fertiliser plants

A gas crisis has forced closure of five out of six major urea fertiliser factories in Bangladesh.

According to Bangladesh Chemical Industries Corporation (BCIC), there are five major urea plants under its management. Only Shahjalal Fertilizer Co Ltd remains operational among them, though officials warn its production may not last.

https://www.thedailystar.net/environment/natural-resources/energy/news/gas-crisis-shuts-down-5-6-major-urea-fertiliser-plants-4121571

I read an article earlier today, where it stated that the government had been able to secure two ship loads of LNG, they paid 2 times and 2.5 times what they were paying last week ……

What ever way you paint this, it is going to cost an absolute fortune on LNG imports for a while to come yet!!

This loan will not last very long at all …..

FUEL CONCERN AMID ME TURMOIL

Govt seeks $250m worth loan guarantee from WB for LNG import

the Mideast crisis stokes concern about fuel security, Bangladesh's state-run energy corporation Petrobangla has requested an additional US$250-million loan guarantee from the World Bank to augment liquefied natural gas (LNG) imports, officials say.Bangladesh economic trends

The fresh fund request would add up to an existing $350-million guarantee facility approved last year.

The total fund support from World Bank's concessional lending arm, IDA, would come to $600 million for the country's energy-security programme, Energy and Mineral Resources Division (EMRD) officials said Friday.

Bangladesh government's move is part of a strategic shift to stabilise energy supply as the raging Middle-East conflict might affect the energy security following the depleting domestic gas reserves, they said.

https://thefinancialexpress.com.bd/trade/govt-seeks-250m-worth-loan-guarantee-from-wb-for-lng-import

A week ago there may well have been some that were still opposed to Phulbari being mined and would have tried to still put up some resistance to the green light, (sadly i believe it would of been for self interests rather than for the interests of the country), BUT due to world events over the last week, things are changing very quickly, and I honestly believe that many views will have totally changed and that now Bangladesh / BNP really have run out of options and time. We are starting to read it in the press how coal plants are going to be ramped up to 100% capacity and voices for own coal / Phulbari are starting to get louder and louder, so feel that it’s really not going to be very much longer at all, days / weeks before the BNP, will be announcing own coal / Phulbari, and it will be accepted across the country because of how much load shedding they will now be having to cope with …

Yes, Asia Energy is the former name of GCM Resources, it was changed around 2007, from memory.