Indiana Grain Company, LLC

Posted: 09/23/09

By: tomgrisafi

According to AFP newswire, Chevron has made the biggest gas discovery in the past ten years and will be close to doubling the size of the field that they are drilling there. At a meeting with US Energy officials, Prime Minister Sheikh Hasina who is now in US to attend the 64th United Nations General Assembly (UNGA) and will be meeting with President Obama today, said that it was “good news for the country”.

The story quoted Muktadir Ali, chairman of state-owned Petrobangla, who said that out of the current Bibiyana total of 6.6 trillion cubic feet (186 billion cubic metres) proven gas reserves, some 4.4 trillion cubic feet (tcf) is recoverable. The gas was found in Bibiyana Gas field in Sylhet, northeastern Bangladesh.

There has been a shortage in gas in Bangladesh since last year, leading to factory shutdowns and layoffs. Bangladesh needs to continue to locate new sources of energy as the government forecasts the nation's current gas reserves will run out by 2014-15 at present consumption rates.

Source: CNBC, Bloomberg, Examiner.com

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