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Third Natural Gas Development Project in Bangladesh

Third Natural Gas Development Project in Bangladesh

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Performance Evaluation Report
Independent Evaluation Department
Reference Number: PPE:BAN 2009-43Project Number: 26451
Loan Number: 1293-BAN(SF)December 2009
Bangladesh: Third Natural Gas Development Project
 (as of November 2009)Currency Unit – taka (Tk)
At Appraisal At Project Completion At Independent Evaluation
(September 1993) (October 2003) (November 2009)Tk1.00 = $0.0251 $0.0171 $0.0145$1.00 = Tk39.90 Tk58.40 Tk69.09
 bbl barrelkm kilometerMCF thousand cubic feetMMCF million cubic feetpsig pounds per square inch gaugeTCF trillion cubic feetADB Asian Development BankBAPEX Bangladesh Petroleum Exploration and Production CompanyLimitedBERC – Bangladesh Energy Regulatory CommissionBFA Bakhrabad franchise areaBGFCL Bangladesh Gas Fields Company LimitedBGSL – Bakhrabad Gas Systems LimitedEA executing agencyEIRR economic internal rate of returnFIRR financial internal rate of returnHCU Hydro Carbon Unit, a branch within the Ministry of Power,Energy and Mineral ResourcesIED Independent Evaluation DepartmentIEM independent evaluation missionJBIC – Japan Bank for International CooperationJFA Jalalabad franchise areaJGTDSL Jalalabad Gas Transmission and Distribution Systems LimitedMPEMR Ministry of Power, Energy and Mineral ResourcesMRS metering and regulating stationPCR project completion reportPDF price deficit fundPIO project implementation officePPER – project performance evaluation reportRRP report and recommendation of the PresidentSARD – South Asia Regional DepartmentTA technical assistanceTFA Titas franchise areaTGTDCL Titas Gas Transmission and Distribution Company LimitedUNDP – United Nations Development ProgrammeVAT value-added taxWACC weighted average cost of capital
 (i) The fiscal year (FY) of the Government of Bangladesh and its agencies ends on 30 June.FY before a calendar year denotes the year in which the fiscal year ends, e.g., FY2008ends on 30 June 2008.(ii) In this report, “$” refers to US dollars.
adb, asian development bank, bangladesh, dhaka, energy, evaluation, gas, reform, tariff, thirdnatural gas development project
Director General
H.S. Rao, Independent Evaluation Department (IED)
R.B. Adhikari, Independent Evaluation Division 1 (IED1), IED
Team leader
J.S. Bayley, Evaluation Specialist, IED1, IED
Team members
B. Palacios, Senior Evaluation Officer, IED1, IEDS. Labayen, Senior Operations Evaluation Assistant, IED1, IED
Independent Evaluation Department, PE-726
In preparing any evaluation report, or by making any designation of or reference to a particularterritory or geographic area in this document, the Independent Evaluation Department does notintend to make any judgments as to the legal or other status of any territory or area.

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