Category: Energy and Power

Global natural gas demand is projected to decline by 0.5% in 2026 as tighter supplies and higher prices curb consumption across major markets, according to the International Energy Agency’s (IEA) latest Gas Market Report.

The IEA said global gas consumption is on track to contract for the third time in seven years, driven by weaker demand from the power and industrial sectors.

The downturn follows disruptions to LNG shipments through the Strait of Hormuz, a critical route that previously handled about 20% of global LNG trade.

Although LNG tanker traffi c has gradually resumed following a temporary ceasefi re between the United States and Iran, volumes remain below pre-conflict levels, while gas prices in Asia and Europe continue to stay well above 2025 averages.

The report notes that LNG production from Qatar and the United Arab Emirates fell by nearly 80% during MarchJune compared with the same period last year

The OPEC Fund for International Development has launched a $1.5 billion Digital Transformation Action Plan and a new Vulnerability to Viability (V2V) Compact aimed at expanding climate fi nance for vulnerable economies during its 2026 Development Forum.

The Digital Transformation Action Plan will support investments in digital infrastructure, skills and innovation across developing countries through 2030, making digital transformation the Fund’s third strategic priority alongside climate action and food security.

The V2V Compact, launched in partnership with the Government of Barbados, seeks to improve access to affordable, long-term development fi nance for 74 climate-vulnerable countries.

The initiative will initially focus on water security, education and healthcare.

During the forum, the OPEC Fund also announced more than $2.8 billion in new fi nancing, partnerships and development programs, including over $450 million in fresh commitments for infrastructure, private sector development and economic resilience across partner countries.

The government aims to generate up to 10,000 MW of electricity under a new fi ve-year (2026-2030) strategy on renewable energy.

This contains in the of National Renewable Energy Development Strategy.

The goal is to raise the share of the renewables -solar, hydro, and wind -to 20 percent in the country’s energy bowl, up from the current share of 5.4 percent to 5.6 percent.

Solar power currently dominates the renewable energy mix at 81 percent, followed by hydropower (15 percent) and wind which accounts for 4 percent only.

Renewable energy which is clean and cost effective has been on the discussion table for long in Bangladesh.

With imports of fossil fuel -oil, LNG, LPG and coal – getting costlier mainly because of external factors like wars and conflicts Bangladesh’s policy makers have long been campaigning for focusing the attention on the renewables.

Iqbal Hasan Mahmud, the minister for power, energy and mineral resources, at a recent seminar has rightly underlined the need for raising the generation of renewable energy.

This, he said, will reduce the country’s dependence on imported fossil fuel and thus help save foreign currency much needed for building energy costsaving energy infrastructure such as rooftop solar panels.

The proposed strategy has prioritize the installation of solar panels on the rooftops.

This will also save the consumers in paying less for energy bills and thus used the money saved to meet household necessities.

A sizeable amount of money has to be invested in solar paneling the rooftops and to encourage the campaign the government of Prime Minister Tarique Rahman has taken several signifi cant steps in the national budget for FY 202627.

Prospective investors have been offered tax benefi ts and policy support should they go for putting their capital in promoting solar energy.

Installation of floating solar energy panels is also being mulled as part of the proposed national strategy.

Installation of 10,000 MW of renewable energy in less than fi ve years may look an ambitious goal.

Energy experts, however, believe it is not impossible should the government remain true to its promise.

Once the policy makers are convinced that clean renewables are the answers to the country’s achieving the energy security things will fall in place.

A corruption-free honest approach coupled with determination is the key to achieving the goal that at this point may appear diffi cult.

As energy expert M Shamsul Alam says the country’s current energy crisis should not be seen only as a technological problem.

‘This is in fact a crisis of policy and good governance.’ He has rightly pointed out that building big power plants does not necessarily solve the problem.

Small initiatives, decentralization of the system involving hundreds of small entrepreneurs have been suggested by some energy experts like him.

These are welcome suggestions though.

There are caveats though.

In Bangladesh, the governments have shown tendencies for going for the big ignoring the small.

The big projects mean big money.

Huge corruption is possible only big investment is made.

Policies are thus made in favour of big projects where huge capital is needed.

Money comes from donors or by way of domestic bank loans.

This mentality is one of the factors that saw huge cost escalation in implementing mega projects.

Small projects mean small gain in corruption, while mega projects mean mega gains to the corrupt elements.

Transparency, accountability and integrity in project implementation are what Bangladesh has long been lacking.

Promises are aplenty, but their fulfi llment is in short supply.

Long-term strategy with lofty goals are welcome, but execution with honor is what the country needs more than anything else

More than 1,300 excess deaths have been recorded across Europe since June 21 as an unprecedented heatwave continues to grip the continent, prompting the World Health Organization (WHO) to warn of growing health risks linked to climate change.

Millions of people across Europe endured another weekend of extreme temperatures, with several countries reporting rising fatalities and mounting pressure on healthcare services.

In France alone, health authorities reported around 1,000 excess deaths since Wednesday, underscoring the severity of the ongoing heat crisis.

WHO Director-General Tedros Adhanom Ghebreyesus said over 1,300 excess deaths had been linked to the heatwave since June 21.

‘Heat stress is often called the ‘silent killer’ – and European homes, workplaces and schools were not built for these temperatures,’ Tedros wrote on X.

According to forecasts, at least 191 million people were expected to experience temperatures of 35 degrees Celsius or higher on Sunday, with Germany, the Czech Republic, Hungary and Poland among the hardest-hit countries.

A Qatari liquefi ed natural gas (LNG) carrier was struck while transiting the Strait of Hormuz recently, e sscalating concerns over maritime security despite a recent U.S.-Iran agreement aimed at reducing attacks in the strategic waterway.

The LNG vessel, owned by Qatar’s state-run shipping company Nakilat, was reportedly hit while exiting the Strait, forcing its crew to abandon the ship.

A Saudi crude oil tanker also sustained damage in a separate incident, while a third attack was reported by a UK maritime security agency.

The incidents prompted a rise in global energy prices, with crude oil gaining up to 3% and European natural gas futures climbing as much as 6%.

Shipping companies are reassessing transit risks through the Strait of Hormuz, a key route for global oil and LNG exports.

The attacks underscore continuing uncertainty over maritime security in the Gulf, even as diplomatic efforts continue to stabilize the region and restore normal shipping operations.

Adani Green Energy Limited (AGEL) has surpassed 20,000 megawatts of renewable power generation capacity.

The company, which has achieved this milestone in India’s energy sector, reached this capacity within just a decade of commissioning its fi rst project.

Powering over 9 million households, the company currently generates more than 52 billion units of electricity annually, which is nearly 3 percent of India’s total electricity consumption.

This amount of electricity could meet the demand of New York City for an entire year, or almost fully cover the combined electricity demand of Mumbai and New Delhi.

According to data as of May 31 this year, this generation capacity represents about 14 percent of India’s utility-scale solar installations and around 12 percent of the combined capacity of solar and wind power.

AGEL’s current generation capacity includes approximately 14,200 megawatts of solar power, 2,700 megawatts of wind power, and 3,300 megawatts of hybrid power.

In the 2025-26 fi scal year alone, the company added 5,051 megawatts of new capacity, the highest single-year addition by any company outside China.

The ‘COP31 Business Forum Turkish Business Community Consultation Meeting’ was held in Ankara recently, chaired by COP31 President-Designate and Minister of Environment, Urbanization and Climate Change Murat Kurum, alongside the President of the Union of Chambers and Commodity Exchanges of Trkiye (TOBB), M.

Rifat Hisarciklioglu.

Highlighting landmark projects such as the domestic automobile and the Zero Waste Movement at the forum- organized by TOBB, which has been designated the ‘COP31 Private Sector Envoy’-Minister Kurum called for deep cooperation from sector representatives throughout the COP31 cycle.

‘Let us broadcast this vision to the entire world and collectively revitalize Trkiye’s success stories,’ Kurum urged.

‘In the run-up to COP31, let us work together to outline the green transition commitments, best practice models, and the necessary fi nancial and policy instruments required by the Turkish private sector-the crown jewel of our economy.

In the run-up to COP31, let us deliver a collaborative framework that makes the tangible contributions of our private sector visible, establishes Trkiye as a global brand in this fi eld through its participation, workflows, and overarching vision, and reflects the stance, attitude, and vision of our business community.’ Emphasizing that the ministry will work hand-in-hand with the business community throughout the COP31 process, Minister Kurum stated: ‘Today, we are elevating our strong cooperation to an entirely new level as we roll up our sleeves to leave the private sector’s stamp on COP31.

Throughout this process, TOBB will drive broad participation by defi ning the priorities of our business community and establishing a robust national stakeholder base.’ Minister Kurum outlined Trkiye’s COP31 vision to business leaders, which is built on the paradigm of the ‘COP of the Future: COP of Implementation.’ Addressing the green transition in the industrial sector, Minister Kurum stated: ‘In today’s world, global trade rules that have been shaped since the Industrial Revolution are being rewritten around the axis of the ‘Green Transition.’ The European Union’s Carbon Border Adjustment Mechanism (CBAM) is becoming a prerequisite for our exports, market share, and global competitiveness.

Stressing that the COP31 process represents a major opportunity for all stakeholders, Minister Kurum said: ‘COP31 must not be viewed merely as a bureaucratic exercise run by governments.

Instead, you must see it as a climate and development mobilization with our business community leading the charge.’ Minister Kurum concluded his address with a call to the business delegates: ‘Let us broadcast this vision to the entire world and collectively revitalize Trkiye’s success stories.

In the run-up to COP31, let us work together to outline the green transition commitments, best practice models, and the necessary fi nancial and policy instruments required by the Turkish private sector- the crown jewel of our economy.’ In his opening remarks, TOBB President Rifat Hisarciklioglu noted that under Minister Kurum’s directive, TOBB has been tasked as the ‘COP31 Private Sector Envoy’ to coordinate the global business community.

Underscoring that Trkiye aims to lead the way in the green transition, Hisarciklioglu said: ‘The climate struggle is no longer purely an environmental issue; it is the industrial and competitive arena of the 21st century.

Whoever dictates the factories, supply chains, and technology standards of the green transition will command the industrial hierarchy of this century.

Speaking at the forum, the Director of Climate Change, Prof.

Halil Hasar, addressed technical inquiries from delegates regarding verifi cation and reporting frameworks.

The forum was widely attended by business executives, representatives of non-governmental organization, presidents of various chambers and commodity exchanges, and numerous invited guests

The University Grants Commission (UGC) has launched a major initiative to expand rooftop solar power generation across Bangladesh’s public universities, aiming to reduce electricity costs and promote clean energy through private sector investment.

According to a UGC press release, the initiative was discussed at a review meeting on rooftop solar power installations held at the Commission recently.

Under the fi rst phase of the program, around 60 MW of rooftop solar capacity is planned for 31 public universities through an Operational Expenditure (OPEX) model, under which private investors will fi nance, install, operate and maintain the solar systems.

UGC said feasibility studies have already been completed at 47 public universities and one international university

Bangladesh has signifi cantly increased its purchases of expensive spot liquefi ed natural gas (LNG) after three key suppliers suspended contracted deliveries by invoking force majeure amid the recent Middle East conflict.

According to energy sector sources, QatarEnergy, OQ Trading International of Oman and Excelerate Energy of the United States have temporarily halted LNG shipments under fi ve sales and purchase agreements (SPAs), citing disruptions linked to the Iran-Israel conflict and the Strait of Hormuz.

The suppliers have reportedly extended their force majeure notices through mid-July, forcing state-owned Petrobangla to rely heavily on the volatile spot market to maintain domestic gas supplies.

Offi cials said Bangladesh has purchased 33 spot LNG cargoes so far in 2026, including 31 cargoes after the Middle East conflict began, with a record seven spot cargoes imported in each of April, May, June and July

The government is moving towards a new urban planning policy that will ensure Bangladesh’s cities are designed to coexist with rain, water and the realities of climate change, State Minister for Planning Zonayed Abdur Rahim Saki has said.

Speaking at the inauguration of the exhibition ‘Dialogues in Coexistence: Shaping Inclusive Public Spaces in the Bengal Delta’ at Bengal Shilpalay in Dhaka, Saki said future urban development would focus on making public spaces, architecture and city planning more responsive to Bangladesh’s geographical and environmental conditions.

‘Cities must be designed to coexist with rain, water and climate realities, instead of treating them as disruptions,’ he said.

The minister said the government is giving priority to preparing comprehensive master plans for Dhaka and all divisional cities, with similar planning initiatives to be gradually extended to district and upazila towns