Salman F Rahman and Nasrul Hamid inaugurate the 4th Asia LPG Summit

salman F rahmanAdviser to Awami League President Sheikh Hasina, Salman F Rahman attended the inaugural session of “Fourth Asia LPG Summit 2017” at the International Convention City Bashundhara in Dhaka.

Stating LPG (Liquefied Petroleum Gas) as the future of energy sector, Nasrul Hamid—State Minister for Power, Energy and Mineral Resources said, “Government is planning to take initiatives to control the LPG price within the next two months.” Nasrul further added, “An effectual pricing mechanism will be introduced in alliance with the private market operators to manage the prices.”

Acknowledging the sale of LPG at overblown prices in different areas, Nasrul said this happens because of cost involved in transportation. “We’re analyzing how the LPG price can be set in line with the international market.”

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He also said that 70 per cent of the existing household gas connections will be substituted with LPG in a short span of time. “Our initial plan was three years. However, one year has already passed by. Now two years are remaining for the task to be completed.” he added.

Speaking on the occasion, Salman F Rahman said, “Considering the government’s vision of a developed Bangladesh by 2040, the Ministry of Energy believes that LPG can play a major role in meeting the domestic fuel requirements. It will eliminate the crisis of natural gas and provide affordable, safe and clean household energy for all.”

He affirmed that the energy department has already formulated a policy regarding investment in the LPG sector. Now we’re working to settle on how and who will control the LPGF market ensuring safety.

Experts believe that if the natural gas gets sidetracked from industrial use to household and motor vehicles consumption, it would be extremely beneficial for the nation’s economy.

The government has urged the private investors to make more and more investment in the LPG sector, since the economy is growing at a rapid pace and there will be a huge LPG market in Bangladesh.

Furthermore, Government of Bangladesh has plans in pipeline to replace the CNG with Auto Gas for motor vehicles as well. Consequently, LPG could be used in small and medium industries.

“The country is left with only a limited amount of gas resources. We should be careful and vigilant while using it. Our Prime Minister Sheikh Hasina has therefore put emphasis on energy alternatives like LPG,” Salman F Rahman said.