Gas and Renewables in Emerging Economies Series
18 December 2020, 12-2 PM CET
Zoom video conference
For most avid energy security followers in Brussels, gas and renewables have long become a topic highly inter-twined on the one hand, if not a marriage of convenience on the other. During the period spanning roughly the years 2000-2010, very few of us could fail to keep a close eye on key gas supply security developments, bearing in mind supply disruptions emanating from the east, our subsequent efforts to build an Energy Union and efforts to mitigate, in the midst of the growing shadow of the Shale Revolution from across the Atlantic. In the ensuing decade, as the drive towards sustainable energy culminated in the Paris agreements on climate, renewables have tended to super-cede gas as the new buzzword — the fashionable shade of green now somewhat outshining the flammable vision of blue.
Yet, while policy makers in Europe continue to push for renewables largely at the expense of fossil fuels, at the more global level gas and renewables are likely to coexist for quite some time. Indeed, spurred on by a bourgeoning, pre-Covid international LNG trade, demand for investment into a diversity of gas projects remains both politically and commercially desirable — directly in parallel to many governments likewise seeking to attract investment into renewable energy generation. This could, and should, create a more dynamic and diversified set of opportunities for energy investors to choose from, particularly in the emerging markets. We are, after all, living thorough an era of an "energy transition" and participating in the great changes taking place in the market is more desirable for many than merely observing from the side-lines.
Bangladesh is a fast-moving South Asian country with a population of a modest 165 million. In line with the dynamic growth rates observed in many parts of the world as soon as we venture beyond Europe's immediate neighborhood, Bangladesh has witnessed substantial economic transformation during the last two decades. This has resulted in vastly increased demand for energy, including investments necessary in order to realize projects along the entire length of the energy value chain. The government of Bangladesh is presently targeting investments in both the gas and renewable energy sectors, particularly in solar, but also into the gas supply, LNG terminals, etc. Projects of all shapes and sizes are currently available, with investor partners from the major East Asian countries, the Gulf States, and the big international energy groups already being very active in the market. European stakeholders lag behind their international counterparts somewhat, though it is never too late to start since the government of Bangladesh offers attractive terms and multiple incentives for projects in both the gas and renewable sectors.
Recording of the meeting presentation:
Ambassador-designate of the People's Republic of Bangladesh to the Kingdom of Belgium and to the European Union
Director, Summit Power International
Additional Managing Director Summit Corporation
Expert on Energy, Environment and Climate Change
Ex-Additional Secretary and Member, Sustainable and Renewable Energy Development Authority
Ministry of Power, Energy and Mineral Resources
Government of the People's Republic of Bangladesh