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Climate Displacement in Bangladesh M2K TECHNOLOGY & TRADING CO., BANGLADESH. M2K TECHNOLOGY & TRADING CO. PTE LTD., SINGAPORE. BANGLADESH: Amin Court Building (2nd floor), 62-63 Motijheel Commercial Area, Dhaka -1000, Bangladesh. Tel :+880-2-5716-0955 Fax : +880-2-5716-0966 E-mail : [email protected] SINGAPORE: Block 428, Clementi Avenue 3 # 10-430, Singapore-120428. Tel:+65-8299-8715 E-mail: [email protected] Website: www.m2kttc.com WE REPRESENT: Phenix Technologies Inc., USA. Phenix Systems AG, Switzerland. www.phenixtech.com & www.phenixsystems.com Doble Engineering Company., USA. www.doble.com Vanguard Instruments Company Inc., USA. www.vanguard-instruments.com Manta Test Systems Inc., USA. www.mantatest.com Morgan Schaffer, Canada. www.morganschaffer.com Globecore GmbH, Germany. www.globecore.de Larsen & Toubro Limited, India. www.lntebg.com Powerchina Nuclear Engineering Company Limited, P.R. China. www.powerchina-ne.com Editor Mollah M Amzad Hossain Fortnightly Magazine, Vol 18, Issue 19, March 16-31 Advisory Editor Anwarul Islam Tarek Mortuza Ahmad Faruque Saiful Amin International Editor Dr. Nafis Ahmed Contributing Editors Saleque Sufi Online Editor GSM Shamsuzzoha (Nasim) Managing Editor Afroza Hossain We are moving towards an import-dependent scenario and if the current trend Deputy Editor Syed Mansur Hashim continues, primary energy import bill will reach USD20 billion by 2030. It is Reporters totally unsustainable and will play havoc with balance of payments. Experts Arunima Hossain believe that the geological structure of the country suggests that Bangladesh is Assistant Online Editor not suffering from a scarcity of gas reserves, rather it is misinformation that is Aditya Hossain being propagated deliberately. Failure to explore gas has been done to serve Manager A & A interests of vested groups and this runs contrary to the vision of Bangabandhu, Md. Ariful Islam the father of the nation. Design & Graphics Md. Monirul Islam As we stand on the eve of our golden jubillee as an independent nation, Photography Bulbul Ahmed excuses are being made to derail exploration of natural gas and coal. Can Production Bangladesh afford to become dependent on international markets for its energy Mufazzal Hossain Joy supplies which would be subject to price volatility and geopolitics? Bangladeshi Computer Graphics energy experts believe that for Bangladesh to retain its independence, it must Md. Uzzal Hossain persue a policy that will prioritize exploration efforts — both onshore and Circulation Assistant Khokan Chandra Das offshore, adopt conducive policies to man the energy sector with professionals Editorial, News & Commercial and experienced technical hands who can advise the government correctly. Room 509, Eastern Trade Center 56 Inner Circular Road (VIP Road) Naya Paltan. GPO Box : 677 Dhaka-1000, Bangladesh Tel & Fax : 88-02-58314532 Email: [email protected] [email protected] Website: www.ep-bd.com Price Bangladesh: Tk 50, SAARC: US$ 6, Asia: US$ 8, Europe: US$ 10, North America, Africa & Australia: US$ 14 21 9 45 SREDA has drafted a Solar Geological structure of Bangladesh as a Deep down in his heart, Energy Roadmap with a target to riverine delta suggests that Bangladesh Bangabandhu had firm generate 30,000 MW power by should not have crisis of gas as being conviction that the country propagated. Only non-technical bureaucrats would require exploration and 2041. The draft has been exploitation of own primary fuel submitted to the Power Division can be convinced that Bangladesh is running resources to ensure sustainable for review and approval. out of gas resources. Practicing geologists ’ economic development. With Recognizing its contribution to would not vouch for that. Bangladesh s this end in view, he started the power generation, a section geology is a replica of Nigeria and Malaysia. laying foundation for an energy of experts considered it Our crisis is manmade and deliberate. Gas and power organization in the depends on other conditions exploration has been neglected deliberately war-ravaged country … while others termed it ambitious. for serving the interest of a particular vested Mohammad Farashuddin tells EP More on Special Report interest groups. Encouraged by the readers and patrons, the EP would continue bringing out Green Pages to contribute to the country’s efforts in its journey towards environment-friendly energy. Contents 39 Beximco, City Bank Capital Sign Deal to Issue TK 30B Sukuk Bond 39 UN Calls on Bangladesh to Put Renewables First 40 Promotion of Renewables Requires Common Int’l Platform: Nasrul 41 Wärtsilä to Install Floating Battery Storage Solution in SE Asia Contents 5 WORLD WATCH 29 SDGs Latest Development in Climate Vulnerability, Covid World and Implementation of SDG Maternal mortality and Child 6 SNAPSHOT mortality Latest Development 33 REPORT 9 COVER Lub­rref's Profit Climbs 50 years of Energy Sector 13pc in July­Dec Policies Deserve Debugging To Face Future Challenges 35 Bashundhara LPG to Help Replace Coal in Brick 15 COVER ARTICLE Production Increasing Fuel Import Dependence May Derail 37 RLNG Hits Record High Development Endeavors Production 21 SPECIAL REPORT 43 CLIMATE Draft Solar Power Roadmap Climate Change in Targets 29,454MW Bangladesh to ‘Impact Int’l Generation by 2041 Security’: Muniruzzaman 44 Chevron Launches $300m 25 ARTICLE Low Carbon Tech Fund Draft Solar Energy Roadmap 2021­41 Even More Ambitious 45 INTERVIEW Target Can Be Achieved Dr. Mohammad Farashuddin Economist Seventh Governor of 27 CLIMATE Bangladesh Bank Climate Displacement in Founder of East West Bangladesh University (EWU) Worldwatch Siemens Buys Out C&S Gazprom Reelects Miller as Electric for Rs2,100cr Management Committee Siemens Ltd, the flag- Chairman ship listed company of Siemens AG in Gazprom has reelected Alexey Miller as chairman of India, said recently it the management committee for a 5-year term starting has acquired 99.22 May 31, per cent stake of C&S 2021. Electric Ltd from its promoters for Rs Miller 2,100 crore. has served The acquisition will address rising demand for low-voltage power distribution in India. "Apart from gaining access to the in the Indian market, the transaction is also aimed at creating an ex- role port hub," Siemens said in a statement. since 2001. The regulatory approval from Competition Commission of India (CCI) was received in August last year, it added. "Siemens Ltd has closed the acquisition of C&S Electric Ltd ExxonMobil to Cut 7pc of after receiving the approval of CCI on August 20, 2020 and successful completion of further closing steps." S’pore Workforce C&S Electric Ltd is a leading manufacturer of electrical and ExxonMobil said recently it will cut about 7 per cent of its electronic equipment. workforce in Singapore, as “unprecedented market condi- tions” due to the COVID-19 pandemic accelerate ongoing re- India’s Coal Import organization. About 300 positions will be impacted by the end of 2021, the Declines 12pc oil major said. India’s coal import registered a drop of 11.59 per cent to 180.84 ExxonMobil has more than 4,000 employees in Singapore, million tonnes (MT) in the first 10 months of the ongoing fiscal. which houses the company’s largest refinery with a capacity of about The company had imported 204.55 MT of coal in April-January 592,000 barrels period of the previous fiscal year, according to provisional data per day. compiled by mjunction services. “This is a diffi- mjunction–a joint venture of Tata Steel and SAIL–is a B2B e- cult but neces- commerce company and also publishes research reports on coal sary step to and steel verticals. improve our However, India’s coal imports in January increased to 20.05 MT company’s com- as against 18.67 MT in year-ago period, it said. petitiveness and strengthen the Commenting on the coal import trend, mjunction MD and CEO foundation of our business for future success,” said Ms Geral- Vinaya Varma said, “There was a drop in January volumes as dine Chin, chairman and managing director of ExxonMobil compared to the previous month (December). This was mainly Asia Pacific. due to the firmness in seaborne prices. “We are providing transitional support to our colleagues who While there is steady are impacted and are focused on getting through this chal- demand in the mar- lenging time.” ket, the import trend Singapore continues to be a strategic location for ExxonMobil will largely depend with “a world-scale manufacturing complex and a talented on the movements workforce”, the company said in a statement. in international prices, freight rates “The company remains committed to providing energy and products and also domestic that are essential for society, while managing operations safely and supply.” responsibly, including reducing the risks of climate change,” it said. March 16, 2021 5 Snapshot Yeafesh Osman Hands Over LafargeHolcim BD Net Profit Up by 36pc Bangabandhu Science The Board of the Directors of LafargeHolcim Bangladesh Lim- ited in its meeting held recently recommended 10% final and Technology Fellowship cash dividend for the year ended on 31 December 2020, says a press release. "The Company has demonstrated resilient result with its focus on HEALTH, COST and CASH. Our initiatives to focus on dig- ital and innovation, provided further impetus to the outstanding results. We are very proud of the agility and great team work of our employees and the strong support of our customers and suppliers," the press release quoted LafargeHolcim Bangladesh CEO Rajesh K Surana as saying on the occasion. Net Sales during the year reduced by 9% to 16,222 mBDT compared to 17,840 mBDT for the year 2019 due to COVID- 19 lock down and supply disruptions. Science and Technology Affairs Minister Yeafesh Osman handed over Bangabandhu Science and Technology Fellow- Operating EBIT reached to mBDT 2,954, a growth of 1% over ship, National Science and Technology (NST) Fellowship and last year and the Profit after Tax for the year registered an im- special research donations to students for the 2020-21 fiscal pressive growth of 36% to 2,361 mBDT against 1,737 mBDT, year at Osmani Memorial Auditorium in the city on behalf of on the back of various cost reduction and amalgamation ben- Prime Minister Sheikh Hasina recently.
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