OPEC Sees Global Energy Demand Rising 23% by 2050,

Global primary energy demand is projected to increase by 23% between 2025 and 2050, driven mainly by population growth, urbanization , and economic expansion in developing countries, according to OPEC’s World Oil Outlook 2026.

The report forecasts global energy demand rising from 312 million barrels of oil equivalent per day (mboe/d) in 2025 to nearly 383 mboe/d by 2050.

Most of the growth is expected to come from India, other Asian economies, the Middle East, Africa, and Latin America.

Despite rapid expansion in renewable energy, OPEC projects that oil will remain the world’s largest energy source, accounting for just under 30% of the global energy mix by 2050.

Combined, oil and natural gas are expected to supply about 54% of global energy demand.

Weaving Energy Security Into Bangladesh’s Comprehensive Security

1.

Preamble Embroidery is a term deeply woven into Bangladesh’s cultural heritage, evoking the timeless artistry of the Nakshi Kantha.

This traditional craft interlaces threads of different colors and textures into a single, durable fabric that reflects identity, tells stories, and embodies patience, creativity, and care.

Today, Bangladesh’s concept of national security has evolved in much the same way-into the careful weaving of multiple dimensions into a strong and cohesive whole known as comprehensive security.

Embroidery is a term deeply woven into Bangladesh’s cultural heritage, evoking the timeless artistry of the Nakshi Kantha.

This traditional craft interlaces threads of different colors and textures into a single, durable fabric that reflects identity, tells stories, and embodies patience, creativity, and care.

Today, Bangladesh’s concept of national security has evolved in much the same way-into the careful weaving of multiple dimensions into a strong and cohesive whole known as comprehensive security.

Comprehensive security is a holistic approach that integrates people, processes, and technology into a unifi ed, layered system of protection.

It extends beyond the traditional focus on territorial defense to address a broad range of challenges, including economic, energy, environmental, and technological threats.

This approach recognizes that a nation’s strength is measured not only by its military capability but also by its ability to safeguard its economy, sovereignty, and social stability.

For Bangladesh, comprehensive security means protecting its people from hunger, poverty, and environmental degradation just as effectively as it protects them from external aggression.

2.

Multi-dimensional Network of Comprehensive Security In 21 century, comprehensive security defi nes an interconnected network of dimensions rather than isolated forts.

A failure in one area often triggers a Domino Effect across others.

For instance, environmental factors like drought can lead to crop failure, causing economic strain and societal unrest.

This phenomenon could also be true due to the energy crisis.

3.

Energy Security: The Central Nervous System Energy security is defi ned as the continuous availability of energy sources at an affordable price.

It acts as the central nervous system of the nation, because all systems of 21 century depend on its flow.

In Bangladesh, energy is a vital resource that connects other dimensions of security.

3.1 Engine of Economic Prosperity The energy crisis in Bangladesh is driven by high dependence on imported fossil fuels.

This affects foreign exchange (shortages) and geopolitical tensions, signifi cantly hindering economic growth.

It also accelerates inflationary pressure, increases the cost of doing business, and disrupts manufacturing and agricultural sectors.

The Ready-made Garment (RMG) sector, which provides over 80% of total export earnings, relies heavily on stable electricity.

By early 2026, energy shortages will have already reduced 2530% drop in factory production capacity.

Furthermore, grid failures force factories to use expensive diesel generators, signifi cantly increasing operational costs.

The interrupted power for RMG cannot meet export deadlines and ensure competitive operational costs.

Over-reliance on imported fossil fuels and underdeveloped renewable energy sources leaves the economy vulnerable to global market shocks, such as the ongoing conflict in the Middle East.

Chronic power shortages are discouraging new investment, both domestic and foreign.

3.2 Social Contract and Political Stability The social contract relies on the state authority providing essential services (rights, security, services, etc.) and price stability in exchange for social order.

Energy is a primary determinant in this balance.

Agriculture and Food Security: Agriculture depends on diesel for irrigation.

Scarcity of diesel and erratic power supply for irrigation pumps threatens agriculture, particularly during key farming seasons, raising risks of reduced food production.

Shortages of natural gas have led to the shutdown of domestic fertilizer factories, creating high dependence on costly imports.

When diesel prices rose to Tk 115 in April 2026, the price of rice increased to Tk 66-70/kg.

By mid-2026, Bangladesh’s food security may be severely impacted by a compounded energy and economic crisis, with rice prices in Dhaka rising by 8-10% as of May 2026 due to soaring fuel costs.

High inflation reaching 9.04% in April 2026, combined with reduced agricultural production, has signifi cantly lowered food affordability and increased malnutrition risks for low-income populations.

Transportation: Energy security involves shifting toward a sustainable, integrated system that prioritizes public transport with safety, affordable economic participation, and inclusion of marginalized groups.

In April 2026, Bangladesh’s transportation sector is experiencing severe disruption due to an energy crisis fueled by global oil price surges (over US$ 110/barrel) due to regional conflict (Iran versus the USA-Israel).

It leads to severe diesel shortages, higher freight charges, and reduced operations, with bus fares rising to Tk 2.53/km for metropolitan areas and Tk 2.23/ km for inter-districts.

Diesel shortages have caused long queues at fi lling stations, with dealers reporting receiving only a fraction of the requested fuel, which has forced many to close.

Transport operators are increasing freight charges, with truck fares for vegetables rising by up to Tk 10,000, impacting supply chains and raising commodity prices.

Supply of Electricity: As of April 2026, Bangladesh is facing a severe energy crisis, leading to frequent and prolonged electricity shortages, especially during a sweltering heatwave.

The crisis is driven by a massive dependence on imported fuel (LNG, coal, and HFO), which has been severely disrupted by geopolitical tensions in the Middle East.

Power shortages have exceeded 2,000 MW, with rural areas experiencing 5-7 hours of outages daily and urban areas facing 2-3 hours.

The energy shortage has led to reduced productivity in energyintensive industries like textiles and slowed agricultural irrigation.

The Government is actively proposing a 17-21% increase in electricity tariffs to manage the high generation costs.

Household Costs: By April 2026, energy and transport costs rose to 18-22% of urban household budgets, compared to 10-12% in 2010.

Infrastructure Risks: Coastal network assets are susceptible to environmental disasters (like cyclones) coupled with maritime threats, which increase the risk of massive energy supply failures.

Public Order and Political Stability: High inflation and power cuts often trigger protests that challenge political stability.

Bangladesh’s inflation accelerated to 9.04% in April 2026 from 8.71% in March 2026.

The higher fuel costs continue to pressure household spending, according to the latest data released by the Bangladesh Bureau of Statistics (BBS).

High inflation in Bangladesh, hovering since 2022, severely strains public order by reducing purchasing power, increasing poverty, and eroding real income, leading to social distress, potential unrest, and increased pressure on low-income groups.

This sustained crisis triggers protests, fuels income inequality, and complicates Government efforts to maintain stability 3.3 Silent Fuel of Defense Energy security is a silent partner in military readiness.

Fuel shortages can paralyze training and patrols, rendering expensive hardware like tanks and jets immobile.

Modern defense also requires constant electricity for digital warfare, including radars and communication networks.

A hacked or failing grid effectively leaves the military blind.

The 2015-16 Nepal energy blockade by India serves as a critical case study.

When fuel supplies were restricted through the Indian land supply route, Nepal’s economy lost US$ 5 billion, and its military mobility was paralyzed.

This taught a vital lesson: energy is a weapon.

Landlocked Nepal responded by diversifying its supply lines and investing in hydroelectricity to reduce dependence on India.

4.

Strategic Autonomy and Global Shocks Bangladesh may face a growing risk to its sovereignty due to a heavy reliance on imported energy.

In 2010, nearly 90% of electricity was generated from domestic gas.

By 2025, the country was forced to import approximately 25-30% of its gas as LNG.

This reliance creates geopolitical vulnerability.

For example, the Iran versus USA-Israel conflict directly threatens Bangladesh, because much of its imported fuel passes through the Strait of Hormuz.

A blockade in this narrow waterway could entirely halt the flow of oil and gas.

Additionally, the dollar crunch exacerbates this issue; paying for energy in US dollars drains foreign exchange reserves.

Disruption of Sea Lines of Communication (SLOC) in the Bay of Bengal may severely threaten Bangladesh’s energy security by cutting off the maritime routes that facilitate nearly 100% of its fuel imports.

A disruption could immediately halt the flow of imported coal, LNG, and petroleum, leading to widespread power outages, economic shutdowns, and a collapse of energy-dependent logistics, as the nation is highly reliant on imported energy rather than domestic reserves and renewable energy.

5.

Geopolitical Intersection: Iran versus USAIsrael Conflict (2026) and the Security of Bangladesh The ongoing conflict involving Iran versus USA-Israel creates a direct and sophisticated threat to the comprehensive security of Bangladesh.

Dimension Relationship to Iran versus the USA-Israel Conflict Economic Industrial productivity stalls as fuel import bills rise and supply chains break Financial Seeks external loans (IMF, WB, etc.) and foreign lines of credits Human Food security is threatened as diesel costs for irrigation increase due to global price volatility.

Political Government stability is tested by public discontent over high fuel prices (reaching Tk 115 in 2026) Military Strategic autonomy weakens when fuel for defense hardware depends on regional wars.

This conflict creates a critical dependency on energy security, navigating the dimensions of comprehensive security.

A fuel crisis leads to industrial shutdowns, which cause job losses and inflation, eventually resulting in anti-government protests and state fragility.

A vulnerability in energy creates a dangerous flowchart: Energy Crisis ? Industrial Shutdown ? Job Losses/Inflation ? AntiGovernment Protests ? State Fragility 7.

Conclusion: The Path to Sovereignty To achieve a middle-income future, Bangladesh must resolve the 30% production gap caused by energy instability.

True security lies in an internal energy transition of shifting from fossilbased systems of energy production and consumption, including oil, natural gas, and coal, to renewable energy sources like wind, tidal, and solar, to achieve zero carbon emissions by 2050.

To break the chain of dependence, the nation must pursue three primary goals: Increase Domestic Exploration: Accelerate gas exploration in the Bay of Bengal.

Invest in Renewables: Meet the target of 4,100 MW of clean energy by 2030.

Build Strategic Reserves: Increase storage capacity to survive shortterm supply shocks.

By securing its energy, Bangladesh ensures that its embroidery of resilience remains strong and its people remain safe in an uncertain world of 21 centur

CSOs Call for Faster Fossil Fuel Transition Ahead of COP31

Nearly 100 civil society organizations from Trkiye and Australia have jointly called on the incoming COP31 Presidency to make the global transition away from fossil fuels a top priority at the UN climate summit later this year.

In a letter signed by 94 organizations during the Bonn Climate Conference, the groups urged COP31 leaders to accelerate a just, orderly and equitable transition from coal, oil and gas while strengthening international climate fi nance and ensuring that major polluters contribute more to funding climate action.

The organizations also called for the implementation of the Just Transition Mechanism agreed at COP30, with clear funding, timelines and measures to protect workers and vulnerable communities.

They emphasized the need to shield climate negotiations from fossil fuel industry influence and to ensure meaningful participation of civil society and Indigenous communities.

PM Directs Comprehensive Green Infrastructure for Chinese EZ in Anwara

Prime Minister Tarique Rahman recently directed the authorities concerned to ensure a comprehensive waste management system and mandatory integration of renewable energy in the Chinese Economic and Industrial Zone in Anwara, Chattogram.

The directives came during a meeting of the Executive Committee of the National Economic Council (ECNEC), where the ‘Supporting Infrastructure Project for Chinese Economic and Industrial Zone’ project was approved conditional upon addressing environmental issues and incorporating sustainable energy solutions into the project design.

State Minister for Planning Zonayed Abdur Rahim Saki disclosed the information while briefi ng reporters at NEC Conference room in the city following the ECNEC meeting held at the Cabinet Division in the city.

The ECNEC approved the ‘Supporting Infrastructure Project for Chinese Economic and Industrial Zone’ at an estimated cost of Tk 4,189.4597 crore, aimed at accelerating industrialization and attracting foreign investment.

AmCham Installs New EC for 2026-2028

The American Chamber of Commerce in Bangladesh (AmCham) has installed its new Executive Committee for the 2026-2028 term, with Syed M o h a m m a d Kamal of Mastercard Banglades h elected as President and Ala Uddin Ahmad, CEO of MetLife Bangladesh, as Vice President.

Reza Ur Rahman Mahmud, Managing Director of Philip Morris International Bangladesh, will serve as Treasurer.

The installation ceremony, held in Dhaka, marked the beginning of a new leadership chapter focused on strengthening U.S.Bangladesh trade and investment relations.

The new committee pledged to deepen bilateral economic ties, promote Bangladesh as an attractive investment destination, relaunch the U.S.

Trade Show, expand membership engagement and advocate for businessfriendly policy reforms.

UN Climate Dialogue Calls for Stronger Ocean Action Ahead of COP31

The UNFCCC’s 2026 Ocean and Climate Change Dialogue has called for stronger integration of ocean, climate, and biodiversity policies to accelerate global climate action ahead of COP31.

Delegates stressed that protecting marine ecosystems and expanding ocean-based solutions are essential for achieving the goals of the Paris Agreement.

Participants emphasized the need for greater access to climate fi nance, enhanced international cooperation, capacity building, and improved governance to help countries implement oceanrelated commitments.

They also highlighted the importance of aligning national climate plans, biodiversity strategies, and adaptation policies to maximize environmental and economic benefi ts.

The dialogue concluded with growing support for stronger ocean-focused commitments at COP31, with delegates expressing optimism that the discussions will translate into concrete actions to strengthen climate resilience, protect marine biodiversity, and advance sustainable development.

Electricity Allowance Increased for BPDB Offi cers, Employees

Bangladesh Power Development Board (BPDB) has increased the monthly electricity allowance for its offi cers and employees, following the redetermination of the retail price of electricity.

‘The decision to increase the electricity allowance will come into effect from June 2026,’ according to a BPDB notifi cation.

According to the BPDB decision, offi cers and employees working regularly and on deputation at BPDB will receive an electricity allowance of Tk 3,584 per month.

The notifi cation said that as per the previous decision of the Ministry of Power, Energy and Mineral Resources and the decision of the 1414th General Board Meeting of BPDB, an amount equivalent to 400 units of electricity bill is being paid as electricity allowance to offi cers and employees.

But recently, Bangladesh Energy Regulatory Commission (BERC) has re-determined the retail price of electricity, so the amount of allowance has been increased in line with the current cost of using 400 units of residential electricity, it said.

PETRONAS Expands Offshore Exploration Portfolio in Turkmenistan

PETRONAS Carigali has strengthened its upstream presence in Turkmenistan by signing a Production Sharing Agreement (PSA) for offshore Blocks 19 and 20 in the Turkmen sector of the Caspian Sea, securing a 100% participating interest in the new exploration acreage.

The company also signed a cooperation agreement to conduct 2D seismic surveys across the Northern Offshore Blocks to improve geological data and support a more comprehensive assessment of the region’s hydrocarbon potential.

In a parallel development, the governments of Malaysia and Turkmenistan signed a framework agreement to enhance long-term cooperation in the development of Turkmenistan’s hydrocarbon resources.

The partnership could eventually be expanded to include the development of the country’s giant Galkynysh gas fi eld.

The agreements reinforce PETRONAS’ strategy to expand its international upstream portfolio while supporting Turkmenistan’s efforts to unlock additional offshore oil and gas resources in the Caspian Sea.

Gas Shortage Biggest Deterrent to Investment: BIDA

An acute shortage of energy – particularly natural gas – remains the single-biggest obstacle to investment in Bangladesh, Executive Chairman of the Bangladesh Investment Development Authority (BIDA) Chowdhury Ashik Mahmud Bin Harun said recently.

‘The major issue is energy.

There is no scope for doubt about it.

Even from the government’s perspective, we know very well that the specifi c fuel in focus is gas,’ he said.

‘After that, you can raise the issue of electricity.’ The BIDA chief made the remarks while responding to a question on the key challenges facing investors in the country at a journalists’ workshop titled ‘Bangladesh’s Investment Flows and Investment Facilitation’, organized by BIDA at its headquarters in the capital’s Agargaon, where he was the chief guest.

‘If the energy constraint remains, no matter how many investment summits we hold, investors will not come,’ he said.

EDITORIAL

Bangladesh’s draft National Renewable Energy Development Strategy marks a signifi cant shift in the country’s approach to energy security.

The strategy recognizes it as a cornerstone of economic resilience, energy independence, and long-term sustainability.

The ambition is diffi cult to ignore.

Expanding renewable capacity by more than 10,000 MW within fi ve years would transform the sector and reduce its growing dependence on imported fossil fuels.

The emphasis on rooftop solar, private investment, fi nancial incentives, and grid modernization reflects a broader recognition that the future energy security will depend as much on innovation and market confi dence as on government planning.

Yet ambition alone will not guarantee success.

Bangladesh’s renewable energy sector has struggled for years with policy uncertainty, fi nancing constraints, institutional weaknesses, and delays in project implementation.

These challenges cannot be overcome through targets alone.

Investors will require clear regulations, transparent procurement, reliable payment mechanisms, and effi cient project approvals before committing substantial capital.

Equally important is the readiness of the electricity grid.

Expanding solar generation without adequate transmission capacity, battery storage, and demand management could create new operational and fi nancial challenges.

The draft strategy is therefore best viewed as a beginning rather than a destination.

The real test will lie in implementation.

If the government follows through with consistent policies, transparent governance, and sustained private sector engagement, the green pivot could become a defi ning chapter in Bangladesh’s energy transition.

If not, it risks joining a long list of ambitious plans whose promise was never fully realized.