Natural gas has been discovered at the Rashidpur-3 well under Sylhet Gas Fields Limited (SGFL) during a workover operation conducted on Thursday (5 September).
According to an SGFL press release, the well is expected to yield about 25.55 billion cubic feet (bcf) of gas over the next 10 years. The operation cost has been estimated at Tk73 crore. Based on the current LNG price of Tk65 per cubic metre, the market value of the extracted gas is projected at around Tk4,700 crore. SGFL also noted that the well may produce condensate as a by-product.
Bangladesh currently depends heavily on natural gas to fuel its power plants and industries, with domestic reserves steadily depleting over the past decade. Production has been declining at several key gas fields, forcing the country to rely on costly imported liquefied natural gas (LNG) to meet growing demand. At present, daily gas demand is around 4,000 million cubic feet, while local supply hovers near 2,300–2,400 million cubic feet, creating a significant shortfall.
New discoveries like Rashidpur-3 offer some relief to this widening supply gap, though experts warn they are not enough to fully offset the reliance on imports. Energy planners have stressed the urgency of further exploration in onshore and offshore blocks, while also diversifying energy sources to ensure long-term security.
