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The commission was created in 2003 and is responsible for the setting of gas, petroleum oil and electricity prices in Bangladesh. As the regulator, it also arbitrates disputes in the energy industry. [2] Its approval is needed for any changes in the price of electricity, gas and petroleum oil. [3] The Energy Security Fund is under this agency. [4]
In March 2019, Sundarban Gas Distribution Company along with three other state owned distribution companies sought permission from Bangladesh Energy Regulatory Commission to increase the price of the gas they supplied. [10] There was a hearing on the proposed hike and Gano Forum threatened street protests unless the price hike was cancelled. [11]
The Bakhrabad Gas Distribution company's calls for raising the price of gas in 2016 was denied by Bangladesh Energy Regulatory Commission. [6] According to a news report of the Dhaka Tribune, CNG stations in Comilla District were illegally selling 1.2 billion taka of gas with the help of corrupt staffs in the company. [7]
Karnaphuli Gas Distribution Company Limited was established on 8 February 2010 by the government of Bangladesh as a joint stock company. Its starting authorized capital was 30 million taka, [1] [3] which is now 10,000 million taka. It started its revenue collection from July 2010.
As of 2015, the natural gas reserves of Bangladesh is 14.16 trillion cubic feet. [14] The country has an average daily natural gas production of around 2,700 million cubic feet. [15] As of 2024, Bangladesh currently has 29 gas fields, with 20 of them in production. Petrobangla estimates that the proven reserves are at 28.79 trillion cubic feet ...
Victory Day celebration by PetroBangla. Petrobangla was founded in 1985 (Notification of Ordinance-21 in April 11 1985) by merging two government organizations Bangladesh Oil & Gas Corporation (BOGC) and Bangladesh Mineral Exploration and Development Corporation (BMEDC) into Bangladesh Oil, Gas and Mineral Corporation(BOGMC). [3]
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In 1968, the piped Natural Gas connection was introduced to households of East Pakistan. [ 1 ] In response to the demand for alternative fuel and the growth of the market, Omera Petroleum Limited, a subsidiary of MJL Bangladesh Limited . has launched Omera LPG in the market on March 31, 2015.