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Demand for LPG to reach 3.0m tonnes by 2025

Speakers tell summit

FE Report | January 18, 2018 00:00:00

State minister for power, energy and mineral resources Nasrul Hamid on Wednesday urged the companies operating in the country's LPG sector to maintain quality of fuel and keep the price within the means of general consumers.

He also suggested the sector people diversify their products for different types of consumers-from industrial to the community.

The state minister made the suggestions at the closing ceremony of the '5th Asia LPG Summit 2018' held at International Convention City, Bashundhara (ICCB) in Dhaka.

The two-day summit was organised by the World LPG Association (WLPGA), All Event Groups, Singapore and Global Event Management Services Ltd with the support from the ministry of power, energy and mineral resources.

Vice-president of the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) Sheikh Fazle Fahim, Intraco Group managing director Md Riyadh Ali and WLPGA director David Tyler also spoke at the programme.

Noting that the reserve of natural gas in the country is reducing fast, Mr Hamid said the government had been promoting the use of LPG in the last couple of years to decrease pressure on gas.

He said LPG should be in the private sector so that the government has issued 50 licences to do business in the potential sector.

The state minister also stressed better marketing by the LPG sector companies so that the consumers can get to know what LPG solution they need in the households or industrial units.

The companies are concentrating only on cylinder LPG for domestic use, he added.

Speaking at the programme, Mr Fahim said the Asia LPG Summit was arranged for the second time in the country, which indicated the potential of the sector in Bangladesh.

He also said that the FBCCI has been requested to become an observer of the WLPGA so that it can connect Bangladesh's business people with global companies.

Terming Bangladesh one of the fastest-growing LPG markets in the world, Mr Tyler said the demand for the fuel might reach upto 3.0 million tonnes by 2025.

However, the infrastructure needs to be developed maintaining the highest safety measures, he added.

The summit was arranged with a view to supporting sustainable growth in the LPG industry of the country, focusing on framing suitable policies and attracting infrastructural investment in the sector.

Around 15 local and 70 international companies showcased their technologies and benefits of LPG as an alternative energy to meet the increasing demand of Bangladesh.

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