Topic: Present Scenario of Energy Consumption and Economic Growth in Bangladesh.

Introduction:
Bangladesh stands as a mid-income nation with one of the world's most robust GDP growth rates.
Central to its sustained growth is energy—the driving force behind the country's development.
Effectively harnessing energy resources is paramount, not only to meet escalating energy demands
but also to propel Bangladesh from a mid-income status to a fully developed nation. Energy plays
a pivotal role in realizing Vision 2121, Vision 2041, and attaining Sustainable Development Goals.
Approximately 59% of Bangladesh's energy demand is fulfilled by natural gas, while other
essential fuels like oil, coal, and biomass contribute significantly. Despite substantial coal reserves,
their production and utilization remain limited. In contrast, natural gas, despite modest reserves,
constitutes the highest share in both production and consumption. Additionally, the country relies
on imported oil, LPG, and has initiated LNG imports to meet the surging gas demand. Biomass
remains a major source of energy consumption, and electricity imports from India also support
energy requirements.
Embracing renewable energy over traditional resources like gas, coal, and oil aligns with global
efforts towards sustainable development and environmental conservation by curbing carbon
emissions. Nations like Sweden, Germany, China, and the USA have significantly integrated
renewable energy into their energy matrices. Bangladesh has made strides in renewable energy,
albeit less than the required amount. The government has launched initiatives such as solar home
systems, solar irrigation, and the Rooppur nuclear project to enhance renewable energy adoption
in the future.
Advancing the energy sector remains pivotal for Bangladesh's ongoing development. The nation
must prioritize cutting-edge exploration techniques to uncover new energy sources, reducing
reliance on natural gas. Coordination between imported LNG and increased utilization of oil and
LPG are essential strategies to achieve Bangladesh's development aspirations. With these
concerted efforts, Bangladesh can propel itself toward its envisioned developmental objectives.
Present Scenario of Energy Consumption
Table1: Sector wise petroleum consumption 2021-22
Economic Growth:
In Bangladesh, the correlation between energy consumption and economic growth stands as a
pivotal factor in shaping the country's current development landscape. The surge in energy
needs, particularly in electricity, mirrors the expansion and diversification of economic activities.
This heightened demand for energy resources signifies their fundamental role in propelling
Bangladesh's economic progression.
Various studies have underscored the intricate relationship between energy consumption and
GDP growth. The increase in energy usage has been instrumental in driving productivity and
industrial output across diverse sectors. Conversely, economic growth spurs a greater demand for
energy, creating a reciprocal link between energy consumption and sustained economic
expansion.
Critical sectors like industries and manufacturing, heavily reliant on energy, significantly
contribute to the nation's economic output. This underscores the indispensability of consistent
and adequate energy supply in fostering Bangladesh's economic resilience and competitiveness.
To fortify this link between energy and economic growth, the government has adopted strategic
measures. These initiatives encompass the optimization of energy utilization, promotion of
renewable energy sources, and advancements in energy-efficient technologies. Additionally,
ensuring widespread access to uninterrupted and sustainable energy remains a priority to bolster
economic activities nationwide.
As Bangladesh charts its path towards continued development, addressing the intertwined nature
of energy consumption and economic growth remains imperative. Robust and innovative energy
policies are crucial in fostering a sustainable, reliable, and efficient energy infrastructure
conducive to furthering economic prosperity and resilience in the country.

References:
1. Energy Scenario of Bangladesh 2021-22
2. HCU Data Bank
3. Petrobangla MIS Report
4. Hydrocarbon Unit, Energy and Mineral Resources Division Ministry of Power, Energy and
Mineral Resources,Government of People republic of Bangladesh.
5. Petrobangla Annual Report 2021