Gas extraction should not be leaking money
Tribune Editorial

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    Photo- BIGSTOCK

It is alarming to know that at least Tk105 crore has gone down the drain due to the state-owned BAPEX’s gross mismanagement in handling its gas exploration projects.

The Mubarakpur project in Pabna was initiated all the way back in 1984 which was greenlit more than two decades later, and after numerous delays, revisions, and technical problems, the deadline had been extended to June 2015 -- all the while the budget for the gas-extraction project kept getting bumped up significantly.

Exploring potential new gas reserves is a good step, but the government, and any third parties involved, need to ensure that they are backed up by thorough field research before any drills are put to ground

There can be no excuse good enough to back up an unmitigated mess of this size and scope.

It’s no big secret that Bangladesh’s gas reserves are expected to run out within the next decade. Which is all the more reason for the government to chalk out a better plan in place in order to prepare.

Exploring potential new gas reserves is a good step, but the government, and any third parties involved, need to ensure that they are backed up by thorough field research before any drills are put to ground.

After the Khulna gas project -- which aimed to bring new gas connections to the people of Khulna -- wasted around Tk370cr, yet another loss-making failed gas-exploration project would be immensely financially draining.

If the government expects the common people to pay more for gas, it cannot afford to waste public funds in such failed endeavours.

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