Md. Mukhlesur Rahman: Bangladesh’s gas crisis is not a new phenomenon. However, the recent decline in gas pressure in residential areas, inadequate gas supply to industries disrupting production, interruptions in electricity generation, and long queues at CNG filling stations have once again exposed the country’s vulnerabilities in energy security. This is not merely the result of temporary supply disruptions or technical failures; rather, it reflects long-standing policy shortcomings, excessive import dependence, limited infrastructure, and a fragile supply system.For decades, Bangladesh relied primarily on its domestic natural gas resources to meet the energy needs of households, industries, and power generation. Over time, however, rapidly growing demand, insufficient investment in the exploration of new gas fields, and declining production from existing fields have significantly reduced domestic output relative to national demand. Consequently, the country has become increasingly dependent on imported Liquefied Natural Gas (LNG) to bridge the supply gap.The LNG import process is both capital-intensive and technologically complex. LNG is transported by specialized vessels, received through Floating Storage and Regasification Units (FSRUs), converted back into natural gas, and then injected into the national transmission grid. At present, a substantial portion of Bangladesh’s LNG supply depends on only two floating regasification terminals. As a result, any technical malfunction, fire, scheduled maintenance, or adverse weather affecting one of these facilities can quickly disrupt the country’s entire energy supply chain.The recent fire at one of the floating LNG terminals clearly demonstrated the fragility of the existing infrastructure. When the disruption of a single facility is capable of affecting industrial production, electricity generation, transportation, and household energy supply simultaneously, it becomes evident that the country’s energy security framework still lacks adequate resilience.It is important to note that the responsibility for LNG imports, wholesale gas marketing, and transmission through the national grid rests primarily with the state-owned Petrobangla. Meanwhile, LNG infrastructure is operated with the participation of domestic and international private-sector companies. Public-private partnerships can play a positive role in developing modern energy infrastructure. Nevertheless, from a national energy security perspective, excessive reliance on one or two critical facilities or a limited number of operators represents a significant long-term strategic risk.Diversification of import sources also deserves greater attention. Bangladesh procures LNG through both long-term contracts and the international spot market. Consequently, fluctuations in global LNG prices, geopolitical tensions, maritime security risks, exchange rate volatility, and transportation costs directly influence the country’s import expenditure. Therefore, LNG procurement decisions should not be driven solely by immediate supply requirements; equal emphasis should be placed on long-term affordability, contractual sustainability, price risk management, and supply reliability.Recent geopolitical developments have made these risks even more apparent. Instability in the Middle East, uncertainty surrounding the Strait of Hormuz and the Bab el-Mandeb Strait, international sanctions, and volatility in global energy markets all have the potential to significantly affect import-dependent economies such as Bangladesh. Energy security, therefore, is no longer merely an economic concern; it has become an integral component of national security, foreign policy, and strategic diplomacy.At the same time, public discussions on such sensitive issues often include allegations, speculation, and political narratives. Before accepting or rejecting such claims, they should be carefully evaluated against official documents, audit reports, contractual terms, and the views of all relevant stakeholders. Sound public policy must be built upon evidence-based analysis rather than assumptions or emotions.Available data and prevailing trends indicate that Bangladesh’s energy policy has become increasingly import-dependent. This calls for a timely policy reassessment. Greater emphasis should be placed on domestic gas exploration, increased investment in the upstream sector, accelerated onshore and offshore exploration, construction of land-based LNG terminals, expansion of gas transmission and storage infrastructure, and broader adoption of alternative energy sources. These measures are essential to build a more resilient, diversified, and sustainable energy supply system.At the same time, Bangladesh should expand investment in renewable energy, strengthen regional energy cooperation, promote cross-border gas and electricity trade, establish a Strategic Gas Reserve, and improve energy efficiency across all sectors. Increasing supply alone will not solve the problem; equal priority must be given to reducing waste, minimizing system losses, and promoting energy-efficient technologies, particularly in industry.Equally important is ensuring transparency, accountability, and competitive governance throughout the energy sector. Decisions regarding major infrastructure projects, LNG procurement contracts, and long-term investments should be guided by independent economic assessments and the broader national interest. Every major decision in the energy sector has far-reaching implications for industrial productivity, employment, inflation, export competitiveness, and overall economic growth.Bangladesh now stands at a critical juncture where energy security can no longer be viewed simply as a matter of importing more natural gas. Building a sustainable energy future requires a comprehensive strategy based on five key pillars: optimal utilization of domestic resources, diversification of energy sources, modern infrastructure, efficient management, and good governance.Addressing the immediate gas shortage is undoubtedly important. However, even more crucial is the adoption of a long-term, transparent, diversified, and nationally driven energy strategy that minimizes excessive dependence on any single infrastructure facility, supplier country, or technology. Only such a comprehensive approach can establish a stronger, more resilient, and sustainable foundation for Bangladesh’s long-term energy security.Md. Mukhlesur RahmanEconomist and Energy AnalystInternational Representative, Petro Asia Global, Dubai, United Arab Emirates