200 billion dollars are required for power and energy sector
State Minister for Power Nasrul Hamid said that 200 billion US dollars are needed in the next 10 years for the proper development of the power and energy sector.
He said this while speaking as a special guest at the signing ceremony of the long-term LNG sale-purchase, MLNG expansion and Payra term sheet agreement between Petrobangla and Accelerate Energy of the United States at a hotel in the capital on Wednesday (November 8).
He also said that there will be a huge change in technology. There will be huge investment opportunities. There will also be massive investment in deep sea exploration. The interest of famous companies of the world is wide.
The agreement was signed by Ruchira Islam, Board Secretary of Petrobangla and Ramon Wangdi, Vice President Asia-Pacific Region of Accelerate Energy, USA, on behalf of their respective organizations.
The State Minister said that the progress of power and energy sector in Bangladesh in the last 15 years is remarkable. The Division of Power and Energy has shown enviable success in every aspect of execution of annual work or implementation of annual development programs. Electricity has reached every house. Now access to affordable quality uninterrupted power is a challenge.
He also said that with the development of Prime Minister Sheikh Hasina, the government is dedicated to building a smart Bangladesh by 2041.
Speaking as the chief guest at the event, Dr. Tawfiq-e-Ilahi Chowdhury, Advisor to the Prime Minister on Power, Energy and Mineral Resources, said that in the last 3 years, Bangladesh had to spend an additional 14 billion US dollars in the energy sector alone to face global challenges.
He further said, 'It is only a matter of time to face the challenges if we can consolidate our achievements. Emphasis is placed on energy diversification. An 11,000 MW power generation project has been taken up using solar power.
Presided over by Secretary of Energy and Mineral Resources Division Md. Nurul Alam, US Ambassador to Bangladesh Peter D Haas, Petrobangla Chairman Janendra Nath Sarkar among others spoke at the event.