Bangladesh seeks Saudi cooperation to ensure energy security

Bangladesh has sought long-term cooperation from Saudi Arabia to ensure national energy security. The two countries have also discussed setting up a floating liquefied natural gas (LNG) terminal, as well as exploring gas reserves onshore and offshore. Saudi Arabia has assured Bangladesh of its support in these areas.

State Minister for Power, Energy and Mineral Resources Aninda Islam Amit held the discussions on Sunday (11 October) on the sidelines of the 17th International Energy Forum in Riyadh, Saudi Arabia.

The Ministry of Power, Energy and Mineral Resources shared the information in a press release on Monday (12 October) morning.

According to the press release, separate discussions were also held on the possibility of LNG supplies from Qatar and renewable energy investment with Saudi Arabia-based ACWA Power.

The state minister held separate bilateral meetings with Saudi Arabia’s Assistant Minister of Electricity, Nasser Al-Qahtani; Qatar’s Minister of State for Energy Affairs and CEO of QatarEnergy, Saad Sherida Al-Kaabi; and ACWA Power CEO, Thamer Al-Sharhan.

During the meeting with the Saudi assistant minister, Bangladesh sought Riyadh's support in ensuring the country's energy security. Saudi Arabia expressed hope to expand its existing cooperation with Bangladesh in the energy sector.

Both sides also discussed establishing a framework of understanding, including regular communication between representatives, to identify major areas of collaboration to help Bangladesh achieve its 2030 energy targets.

The meeting also touched upon long-term energy cooperation, setting up a floating LNG terminal and conducting onshore and offshore gas exploration.

In his meeting with Qatar’s Energy Minister and CEO of QatarEnergy Saad Sherida Al-Kaabi, the state minister highlighted Bangladesh’s rising gas demand and its current LNG import framework.

The discussions focused on the potential to secure LNG through QatarEnergy’s global supply network, as well as diversifying import sources and transport routes. Both sides emphasised the need to continue commercial and technical talks between their respective agencies.

Bangladesh currently relies on imported LNG alongside domestic gas reserves. Ensuring long-term supply agreements and diversifying import channels are considered crucial for meeting the country's domestic gas demand and maintaining energy security.

During the meeting with the CEO of ACWA Power, the two sides discussed investment opportunities in Bangladesh’s renewable energy sector. The Saudi-based company expressed a keen interest in investing in Bangladesh.

Attracting foreign investment to boost clean energy generation is a major priority for the Bangladesh government. However, the press release did not provide specifics on the size of the potential investment, project types or implementation timelines.

Earlier, at the start of the meeting with the Saudi Assistant Minister of Electricity, State Minister Aninda Islam expressed deep condolences for the victims of the recent Houthi rebel attack at Riyadh International Airport.

He requested the Saudi government’s assistance in repatriating the bodies of the two Bangladeshis killed in the strike and ensuring proper medical care for the injured.