Spot market LNG purchases can cost Bangladesh about $11 billion between 2022 & 2024

Bangladesh faces a potential $11 billion expenditure on spot market LNG imports from 2022 to 2024 due to diminishing domestic gas reserves and a heavy reliance on gas-fired power generation. The analysis indicates that implementing the ambitious solar targets of the Mujib Climate Prosperity Plan could reduce these imports by 25% and save approximately $2.7 billion. Despite this, the country continues to prioritize new gas and coal capacity over renewable energy, which currently accounts for only 1% of total power generation.

• Bangladesh could spend approximately $11 billion on spot market LNG imports between 2022 and 2024, based on current plans to import 30 cargoes in 2022 and stable import levels thereafter.
• The Mujib Climate Prosperity Plan's (MCPP) ambitious MCPP-M scenario, which targets 2.7 GW of solar capacity by 2025, would have reduced spot-market LNG import requirements by 25% (3.1 mcm) and saved $2.7 billion between 2022 and 2024.
• Bangladesh's energy crisis is driven by a high dependency on gas for electricity, which met 62% of demand growth between 2011 and 2021, while renewable energy generation remained marginal, accounting for only 1% of total power generation in 2021.
• Current infrastructure trends favor fossil fuels over renewables; as of July 2022, Bangladesh was building 4.7 GW of new gas-fired plants with 23.6 GW in the pipeline, and had 8.8 GW of coal capacity in construction or pre-permit stages.

APA

Ember (2022). Spot market LNG purchases can cost Bangladesh about $11 billion between 2022 & 2024. https://ember-energy.org/latest-insights/spot-market-lng-purchases-can-cost-bangladesh-about-11-billion-between-2022-2024

Chicago

Ember. Spot market LNG purchases can cost Bangladesh about $11 billion between 2022 & 2024. 2022. https://ember-energy.org/latest-insights/spot-market-lng-purchases-can-cost-bangladesh-about-11-billion-between-2022-2024.

Wikipedia

{{cite report |author=Ember |title=Spot market LNG purchases can cost Bangladesh about $11 billion between 2022 & 2024 |date=5 October 2022 |url=https://ember-energy.org/latest-insights/spot-market-lng-purchases-can-cost-bangladesh-about-11-billion-between-2022-2024 |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{ember2022spot, author = {{Ember}}, title = {{Spot market LNG purchases can cost Bangladesh about \$11 billion between 2022 \& 2024}}, institution = {Ember}, year = {2022}, month = oct, url = {https://ember-energy.org/latest-insights/spot-market-lng-purchases-can-cost-bangladesh-about-11-billion-between-2022-2024}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }