LNG and LPG Market Development in Bangladesh

Abstract

Bangladesh can focus on the development of markets for liquefied gaseous energy sources like Liquefied Petroleum Gas (LPG) and Liquefied Natural Gas (LNG) as alternative sources of energy as a part of the fuel diversification plan. Keeping the enormous prospects into consideration, a switch from the employment of traditional fuels to LNG and LPG would ideally improve the standard of living of the people of Bangladesh and would also help to attain the far-reaching economic, social and environmental well-being. However, to reap the complete benefits of using these two relatively eco-friendly energy sources, as alternative fuels, the concerned markets need to be adequately developed. Moreover, favourable government regulations, improvement of infrastructure in port areas, awareness building and, most importantly, proper pricing of LPG and LNG are necessary to ensure sufficient energy diversification for resolving energy crisis in Bangladesh.