Staff Reporter:
Power, Energy and Mineral Resources minister Iqbal Hasan Mahmood has sought foreign investments in the energy sector to ensure energy security of the country.
“Bangladesh requires substantial investments in energy infrastructure to support industrial growth, trade competitiveness and economic prosperity,” he said while speaking at “Baku Energy Forum 2026” in Azerbaijan, according to a press release.
He said the government is committed to a “Bangladesh First” approach where energy security, affordability and sustainability remain central to the country’s national development strategy.
The minister attended the Ministerial Plenary Session (Segment-1) on International Cooperation for a Resilient and Diversified Energy Future in Baku, Azerbaijan on 1 June.
Addressing the session, he sought investment in onshore and offshore bidding rounds, land-based LNG (Liquefied Natural Gas) terminal, second oil refinery and expansion of renewable energy.
Mahmood said the government launched offshore bidding rounds last month, with a six-month timeline extending until November 2026, as election commitment to emphasize domestic resource exploration.
“We have updated the fiscal and commercial terms to make the investment environment more attractive to investors,” he added.
The minister said renewable energy has been accorded another key strategic priority, with a clear target of generating 10,000 MW of electricity from renewable sources by 2030.
“Cooperation among D-8 countries in the hydrocarbon sector is extremely important. Bangladesh believes that hydrocarbon continue to play vital role in ensuring reliable and affordable energy supply,” he said.
Bangladesh is highly interested in learning and knowledge exchange from the countries which have vast experiences on renewable energy expansion and carbon market processing, he said, adding, “We are also interested in welcoming investors from countries with renewable energy expertise to invest in Bangladesh.”
