Global Coal Management Plc (formerly Asia Energy PLC)



Overview

GCM Resources plc (GCM) is a London-based resource exploration and development company. Its principal asset is its undeveloped coal deposit in the Phulbari region of Bangladesh, the development of which is awaiting approval from the Government of Bangladesh. It also has investments in other companies with mining interests. The company's shares are quoted on the Alternative Investment Market (AIM). (Ticker code: GCM).

The Phulbari Coal Project is a substantial, world class coal resource that will support a long life, low cost mining operation. It is the only such deposit in Bangladesh that has been subjected to a full Feasibility Study and Environmental and Social Impact Assessment prepared to international standards. In partnership with the Bangladesh Government, civil society and the community, GCM is committed to developing the Phulbari Coal Project to the highest social and environmental standards. By doing this, GCM seeks to maximise the benefits of the Project for both the Company’s shareholders and the people of Bangladesh.

The Company (GCM) under its former name, Asia Energy PLC, was incorporated in England and Wales as a public limited company on 26 September 2003. Asia Energy PLC was admitted to the Alternative Investment Market (AIM) of the London Stock Exchange on 19 April 2004. Through seed capital raising and the subsequent placement of shares, some £14 million was raised.

In November 2005, following submission to the Government of Bangladesh of the Phulbari Coal Project's Feasibility Study and Scheme of Development, the Company placed an additional 7 million shares and raised a further £33 million.

GCM actively reviews investment opportunities in order to broaden its global investment portfolio.

Coal Project facts

■ Energy security and diversity – The Project has a unique role to play in addressing the country’s electricity shortfall as its development will provide the basis for a step change in the country’s electricity generating capacity.
■Regional development – The Project will provide 17,000 jobs (direct and indirect). In addition the development of new industries using the industrial mineral co-products from the mine will create thousands of more jobs. The living conditions of all affected people will be improved and their livelihoods will be restored and in many cases improved. As a result of year round irrigation, improved water quality, improved inputs and improved farming practices it will be possible to produce three crops per year with higher yields than at present.
■Huge economic impact – Phulbari will contribute 1% to Bangladesh’s GDP each year and pay US$7.0 billion in taxes, royalties and service charges to the Government over the life of the Project. The replacement of high sulphur imported coals and other hydrocarbons will have a positive effect on balance of payments and air quality.

In partnership with the Bangladesh Government, civil society and the community, GCM is committed to developing the Phulbari Coal Project to the highest national and international social and environmental standards. By doing this, GCM seeks to maximise the benefits of the Project for both the company’s shareholders and the people of Bangladesh.

Background

Bangladesh is one of the most densely populated countries in the world with some 162 million people living in an area two thirds the size of the United Kingdom or about the size of New York State. Less than one third of its population live in cities while the majority live in rural areas relying on a predominantly subsistence lifestyle. GDP per capita is around US$1,700 (ppp) per annum compared with a world average of US$10,500. Less than half the population have access to electricity. Bangladesh is a country of enormous potential. It has the eighth largest work force in the world and is included in the “Next Eleven” countries that, after the BRICs (Brazil, Russia, India, and China), were identified by Goldman Sachs as having the potential to become the world’s largest economies in the 21st century. It has enjoyed more than 6% economic growth in real terms over the last five years as well as substantial improvements in measures of human development. For example, between 1980 and 2006 life expectancy has improved from 48 years to 63 years and literacy rates have improved from 29% to 53%.

Bangladesh is one of the most climate vulnerable countries in the world with a significant proportion of the population living in remote or ecologically fragile areas such as river islands or cyclone prone coastal areas. Two thirds of the country is less than five metres above sea level making it vulnerable to the predicted effects of climate change.

Although Bangladesh is vulnerable to the effects of climate change, it is not itself a significant emitter of carbon dioxide. Per capita carbon dioxide emissions (0.3t/capita) are substantially below other countries in the region (Pakistan 0.9t/capita, India 1.4t/capita, China 4.9t/capita) which themselves are substantially less than emissions from developed countries (UK 8.9t/capita, USA 18.9t/capita). Even with the addition of the 4,000MW of electricity capacity which Phulbari coal could support, Bangladesh would still be one of the lowest emitters of carbon dioxide in the world, substantially less per capita than its neighbouring countries.


http://www.gcmplc.com/

"

FINGERS CROSSED ajcc ! :-)

sounds good Smiler..... just awaiting the permit to mine and then all systems go (hopefully after all this time......) Lots of positive chatter coming from the Bangla side..... time to sow it all up - not just for the shareholders sake but also for the country and community of Bangladesh.

WATER, POWER CRISIS CRIPPLES BANGLADESH'S GARMENT SECTOR: ASS'N
Jun 30, 2008
CHITTAGONG - Acting President of Chittagong unit of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) MA Salam on Friday said that Chittagong, known as Bangladesh's commercial capital, has become economically crippled by the water, gas and power crisis.

Addressing a press conference at a local hotel, he alleged that owing to the power crisis production losses in 700 garment factories in this region exceed Tk 100 crore (US$14.6 million) a month.

http://news.tradingcharts.com/futures/2/5/110570852.html


And they need it SOON !!!!!!!!!!!!!!!!!!!!!!!!

Extract from article in Energy Bangla.

Issues of Energy Sector of Bangladesh
Saleque Sufi
Sunday, 06.29.2008, 06:41am (GMT)

With oil price creating record high every passing day with no signs of going down what Bangladesh can do? It is a global crisis. Like other pressing national issues it is also national crisis. Can Bangladesh rise above political divide to work out national consensus and keep energy out of politics to meet present and emerging crisis?

Bangladesh urgently requires reducing dependence on imported petroleum products. It must aggressively explore and exploit its own basic energy resources- coal & gas. In this hour of crisis Bangladesh must observe austerity in all possible ways. We can not have the luxury to misuse and waste energy in any form. The massive Government Sector automobile fleet must be regulated properly to arrest misuse. All government vehicles must be converted to CNG within a strict target. Research must be made how to expand the use of CNG driven pumps for irrigation, railway engines and riverine vessels.

We must not waste any more time in unproductive arguments over mining methods of shallow seam coal. Open pit coal mining in case of Shallow Seam mines at Phulbari and Barapukuria must commence without any fuss. The Contract with Asia Energy Corporation may be revisited if any or some of the clauses are against national interests. If legally permitted we may renegotiate. If not we must let it proceed. Exploration for gas in offshore and onshore must proceed aggressively to find new resrves. The known reserves must be further proved through proper reservoir management.

Bangladesh coal projects may go ahead after national policy adopted
Posted by phulbarinews on July 2, 2008

M Azizur Rahman, Bangladesh

A number of international companies eyeing investment into Bangladeshs coal sector with foreign direct investment proposals worth around $5 billion may shortly get the go ahead after the government adopts the nations first national coal policy. At least four foreign companies are awaiting government approval for their respective coal-mine development proposals for several years after applying to the state-run Board of Investment.

The companies include UK-based GCM Resources (formerly known as Asia Energy), Indian business conglomerate Tata group, South Koreas Luxon Global and US-based Global Vulcan Energy, said a senior BoI official. He said the foreign investment proposals pending with the BoI include a $2.5 billion project from GCM Resources, a $1.6 billion venture from Global Vulcan Energy, a $1.5 billion investment from Luxon Global and a portion of the $3 billion earmarked from Tata.

GCM Resources proposed in October 2005 the development of an open-pit coalmine at Phulbari with a 1,000-MW mine-mouth power plant. Before submission of the investment proposal, GCM Resources conducted a feasibility study on the Phulbari project at the cost of $18 million, company sources said. Tata plans to spend a portion of its $3 billion investment proposal placed in April 2006 developing the open-pit Barapukuria coalmine with a 300-MW mine-mouth power plant. Tatas proposal also includes investment in steel and fertilizer plants.

Global Vulcan Energy signed a memorandum of understanding with the BoI in 2005 to invest $1.6 billion to develop a coalmine at Jamalganj and set up a mine-mouth power plant. The US company also proposed to set up two organic fertilizer plants in Bangladesh. Luxon Global placed its investment proposal and signed a MoU with the BoI in July 2005 intending to develop a coalmine, a mine-mouth power plant, a fertilizer factory and a liquefied natural gas plant.

Since the first such proposal was placed to the BoI in May 2005, the successive governments are holding up these proposals on the pretext of adopting a relevant policy first. Dr M Tamim, Special Assistant to the Chief Adviser on energy issues, said the companies will have to wait until the adoption of the countrys first-ever national coal policy before receiving a government decision.

We are working on adoption of the coal policy. I am hopeful that it might be done in the next two months, Dr Tamim said. The countrys future coal-sector developments would be based on the coal policy, he added


http://phulbarinews.wordpress.com/2008/07/02/bangladesh-coal-projects-may-go-ahead-after-national-policy-adopted/

Fording and rivals plunge as coal price falls
Wed Jul 2, 1:06 PM

CALGARY, Alberta (Reuters) - Fording Canadian Coal Trust's units fell more than 17 percent on Wednesday, with rival coal miners also falling, as coal prices plunged in Europe and the United States.
Units in Fording, which owns 60 percent of the Elk Valley Partnership, the world's No. 2 exporter of metallurgical coal, fell C$16.00 to C$81.50 midday on the Toronto Stock Exchange. Earlier the units touched C$79.58.

Shares in other coal producers were also hit. Western Canadian Coal Corp dropped C$1.20, or 13 percent, to C$7.76 a share, while Grande Cache Coal Corp fell 16 percent, or C$1.41, to C$7.16 a share.

Coal prices plunged by $20 a tonne on Wednesday, with some September delivery coal in Europe dropping to $207 a tonne and U.S. benchmark coal falling by as much.

The price for metallurgical coal, which is crucial for making steel, had surged this year on burgeoning demand while flooding in Australia cut supplies.

Fording said earlier this year that its average contracted coal price for the 2008 coal year, which began April 1, had nearly tripled to C$275 per tonne from $93 in the year-prior period.

Prior to Wednesday's sell-off, Fording units had risen 179 percent over the past 12 months, the fourth-best performance on the Toronto Stock Exchange.

Draft natl coal policy awaits advisors nod
Posted by phulbarinews on July 7, 2008

M Azizur Rahman

The energy ministry has finalised the national coal policy, which will be sent to the council of advisers soon for their final nod despite opposition from the law ministry against adoption of it, officials said. We have finalised the coal policy and will place it to the council of advisers for approval very soon, Chief Advisers special assistant on energy issues Professor M Tamim has told the FE.

Refuting the law ministrys plea to draft an act instead of a policy to facilitate the process of coal extraction, Professor Tamim said a policy is a broader jurisdiction and deals with a variety of issues like environment, land, mines and minerals. Professor Tamim, however, said the law ministrys comments on the national coal policy would also be sent to the council of advisers along with the policy for their final nod.

Sources said the law ministry last week recommended adoption of an act instead of a policy pouring cold water on the energy ministrys years of efforts to get a national coal policy in place. The energy ministry kept investment proposals worth several billion US dollars on hold in last several years on the plea that the proposals would be considered after adoption of the countrys first ever-national coal policy.

Regarding the draft of the national coal policy as finalised by the energy ministry, Professor M Tamim said the policy has no major deviations from the recommendations of the advisory committee headed by former BUET vice chancellor Abdul Matin Patwary. The advisory committee in its report recommended that foreign companies be allowed to develop the countrys coalmines under a joint venture with a local coalmining company.

No foreign companies would be permitted to develop a coalmine independently, the draft of the national coal policy pointed out categorically. As is elsewhere in the world, coalmines in Bangladesh can be developed by applying either the open-pit method or the underground method, the advisory committee suggested. But the mining method should be determined on the basis of the geological structure and the reserve potentials, the committee observed.

A Coal Sector Development Committee comprising professionals from all walks should be constituted for smooth operation of coalmines and other relevant activities. The committee would fix the royalty rate of different coalmines considering mine-specific geological structures instead of the existing mining rules, in which the royalty rate has been fixed at 6.0 per cent for the open-pit mining and 5 per cent for underground mining, it said. The committee also recommended awarding licences for coal exploration from any coalmine through open tenders, though the existing rules say that the licences will be awarded on the first-come-first-served basis.

The government will follow the countrys existing Land Acquisition Act to acquire required land and compensate the displaced people from the mining sites to ensure smooth development of coalmines and its subsequent utilisation, officials said. To address the environmental and social issues, the government might adopt globally-accepted guidelines of equity principles, the draft of the national coal policy pointed out. Khani Bangla, an entity under the state-owned Petrobangla, would be given the responsibility to look into the developments relating to coal and other issues relevant to the countrys mines and minerals.

The advisory committee, however, had proposed formation of a separate company named Coal Bangla empowering it to monitor the coalmine development activities. There will be no option of coal export other than cocking coal in the coal policy. Cocking coal is a kind of coal, especially used in steel manufacturing plants. Setting up a coal-fired power plant at the mine mouth might be made mandatory for developing any coalmine under the national coal policy.

Source: http://www.thefinancialexpress-bd.info/search_index.php?page=detail_news&news_id=38966

July 7, 2008

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Shahiduzzaman Khan

Footdragging on the passage of the draft national coal policy continues with the law ministry withholding yet its much-awaited vetting. As a result, some important investment decisions are now facing a great deal of uncertainty. The law ministry is now suggesting that the energy ministry should formulate an act instead of a policy. In support of its contention, the law ministry said the existing Mines and Mineral Rules 1968 is an age-old act and it has not been amended as yet to give a boost to efforts for development of the coal sector. Some sections of the draft coal policy, the law ministry pointed out, contradict the existing rules. Under the draft national coal policy licences for exploration or extraction from any coal-field will be awarded through open tenders, whereas the existing rules say that the licences would be awarded on first-come-first-served basis.

Besides, the draft policy says that a proposed coal sector development committee will fix the royalty rate whereas the mining rules say that the royalty on coal extraction would be 6.0 per cent for open-pit mines and 5.0 per cent for underground mines. The existing rules have certain number of flaws and deficiencies that need amendment. But the energy ministry said that an act is necessary for a specific issue but the energy ministry was working to help promote development of the coal sector as a whole by formulating the national coal policy first. The ministry for the last several years concentrated on preparing only the national coal policy leading to keeping several billion dollar investment proposals, in abeyance. It was anticipated that adoption of the policy would give a strong and pro-active signal to initiating efforts, in reality, for large-scale development of the countrys coal sector.

Now the questions arise: why was the government silent for all these years about preparing an act first instead of a policy? Why the law ministry did not instruct the energy ministry to prepare an act at the first instance? Does it look good that the two line ministries, as it appears, should be at loggerheads over this issue? Will the hard labour of the energy ministry officials to prepare a draft coal policy for all these years go in vain? These are the pertinent questions that need to be answered. This sudden but and unpalatable decision has caused further setback to the already pending foreign investment proposals worth around US$ 5.0 billion to develop the countrys coal sector. The companies eyeing on adoption of the coal policy for their investments include UK-based GCM Resources (formerly known as Asia Energy), Indian business conglomerate Tata group, South Koreas Luxon Global and US-based Global Vulcan Energy.

Pending investment proposals with the Board of Investment (BoI) include a $2.5 billion project from GCM Resources, a $1.6 billion venture from Global Vulcan Energy, a $1.5 billion investment from Luxon Global and a portion of the $3.00 billion earmarked from Tata. Among the foreign companies, GCM Resources proposed in October 2005 the development of an open-pit coalmine at Phulbari with a 1,000-MW mine-mouth power plant. Before submission of the investment proposal, GCM Resources conducted a feasibility study on the Phulbari project at the cost of $18 million. Tata plans to spend a portion of its $3.0 billion investment proposal placed in April 2006 for developing the open-pit Barapukuria coalmine with a 300-MW mine-mouth power plant. Tatas proposal also includes investment in steel and fertiliser plants. Global Vulcan Energy signed a memorandum of understanding with the BoI in 2005 to invest $1.6 billion to develop a coalmine at Jamalganj and set up a mine-mouth power plant. The US company also proposed to set up two organic fertiliser plants in Bangladesh.

Luxon Global placed its investment proposal and signed a MoU with the BoI in July 2005 intending to develop a coalmine, a mine-mouth power plant, a fertiliser factory and a liquefied natural gas plant. Since the first such proposal was placed to the BoI in May 2005, the successive governments have been holding up the same on the ground of adopting a relevant policy first. In fact, the draft coal policy does not restrict open pit mining, as was initially demanded by some pressure groups. Instead, the policy identifies mining methods as technical issues that should be decided on the basis of technical viability and individual cases. Though the committee believes that quick action is required to tap the coal resources as the country will face a big energy crisis from 2015, its go-slow approach to foreign and private investment proposals will compound the problem further.

The draft policy says that if Bangladeshs GDP remains as low as 5.5 per cent until 2025, the country will need to generate 19000 megawatt of additional power. If the GDP growth rate rises to as high as 8.0 per cent, it would need 41000 MW of power. But at the same time, Petrobangla has said that production of gas which has been the key source for power generation will start to decline from 2011. This is where the countrys coal resources should play a role. The policy adds that to meet power demands in a GDP growth rate scenario of 5.5 per cent, Bangladesh will need 136 million tonnes of coal until 2025. If the GDP growth rate accelerates to 8.0 per cent a year, the country will need 450 million tonnes of coal. The countrys four existing coalfields of Barapukuria, Phulbari, Khalashpir and Dighipara can cater to this need until 2030 or so. Of these, only Dighipara is being mined at present.

The draft policy does not pay much attention to the scope and necessity for developing and harnessing alternative energy sources, including renewable ones. And it was not expected to do that. A national energy plan has to deal with all such issues. However, there is no denying that, coal can only be one ingredient in a countrys energy mix. Hence, the coal policy has to be an integral part of an overall comprehensive energy strategy covering all existing and potential renewable and non-renewable energy sources.

http://northbengalnews.wordpress.com/2008/07/07/for-ending-the-stalemate-on-passage-of-coal-policy/

Now the questions arise: why was the government silent for all these years about preparing an act first instead of a policy? Why the law ministry did not instruct the energy ministry to prepare an act at the first instance? Does it look good that the two line ministries, as it appears, should be at loggerheads over this issue? Will the hard labour of the energy ministry officials to prepare a draft coal policy for all these years go in vain? These are the pertinent questions that need to be answered. This sudden but and unpalatable decision has caused further setback to the already pending foreign investment proposals worth around US$ 5.0 billion to develop the countrys coal sector. The companies eyeing on adoption of the coal policy for their investments include UK-based GCM Resources (formerly known as Asia Energy), Indian business conglomerate Tata group, South Koreas Luxon Global and US-based Global Vulcan Energy.

Pending investment proposals with the Board of Investment (BoI) include a $2.5 billion project from GCM Resources, a $1.6 billion venture from Global Vulcan Energy, a $1.5 billion investment from Luxon Global and a portion of the $3.00 billion earmarked from Tata. Among the foreign companies, GCM Resources proposed in October 2005 the development of an open-pit coalmine at Phulbari with a 1,000-MW mine-mouth power plant. Before submission of the investment proposal, GCM Resources conducted a feasibility study on the Phulbari project at the cost of $18 million. Tata plans to spend a portion of its $3.0 billion investment proposal placed in April 2006 for developing the open-pit Barapukuria coalmine with a 300-MW mine-mouth power plant. Tatas proposal also includes investment in steel and fertiliser plants. Global Vulcan Energy signed a memorandum of understanding with the BoI in 2005 to invest $1.6 billion to develop a coalmine at Jamalganj and set up a mine-mouth power plant. The US company also proposed to set up two organic fertiliser plants in Bangladesh.

Luxon Global placed its investment proposal and signed a MoU with the BoI in July 2005 intending to develop a coalmine, a mine-mouth power plant, a fertiliser factory and a liquefied natural gas plant. Since the first such proposal was placed to the BoI in May 2005, the successive governments have been holding up the same on the ground of adopting a relevant policy first. In fact, the draft coal policy does not restrict open pit mining, as was initially demanded by some pressure groups. Instead, the policy identifies mining methods as technical issues that should be decided on the basis of technical viability and individual cases. Though the committee believes that quick action is required to tap the coal resources as the country will face a big energy crisis from 2015, its go-slow approach to foreign and private investment proposals will compound the problem further.

The draft policy says that if Bangladeshs GDP remains as low as 5.5 per cent until 2025, the country will need to generate 19000 megawatt of additional power. If the GDP growth rate rises to as high as 8.0 per cent, it would need 41000 MW of power. But at the same time, Petrobangla has said that production of gas which has been the key source for power generation will start to decline from 2011. This is where the countrys coal resources should play a role. The policy adds that to meet power demands in a GDP growth rate scenario of 5.5 per cent, Bangladesh will need 136 million tonnes of coal until 2025. If the GDP growth rate accelerates to 8.0 per cent a year, the country will need 450 million tonnes of coal. The countrys four existing coalfields of Barapukuria, Phulbari, Khalashpir and Dighipara can cater to this need until 2030 or so. Of these, only Dighipara is being mined at present.

The draft policy does not pay much attention to the scope and necessity for developing and harnessing alternative energy sources, including renewable ones. And it was not expected to do that. A national energy plan has to deal with all such issues. However, there is no denying that, coal can only be one ingredient in a countrys energy mix. Hence, the coal policy has to be an integral part of an overall comprehensive energy strategy covering all existing and potential renewable and non-renewable energy sources.

Source: http://www.thefinancialexpress-bd.info/search_index.php?page=detail_news&news_id=38530

http://northbengalnews.wordpress.com/2008/07/07/for-ending-the-stalemate-on-passage-of-coal-policy/

; 0

The downtrend would look at 150p

All hangs on news if good 5+ ... However A sea of red on my watch list today : (

CG for quick use of coal for electricity
July 8, 2008

ET Report

The caretaker government has decided to put major emphasis on extracting coal and installing coal-based power plant to meet the increasing electricity crisis and reduce pressure on coal. The decision came from the meeting of the council of advisers that discussed on fuel situation following the power-point presentation by Special Assistant to Chief Adviser Dr M Tamim Wednesday, relevant sources said.

The meeting has brought the coal issue to midterm importance category from long-term one to mobilise highest efforts for the sector. The issue could not be elevated to short-term importance category, as coal extraction and installation of power plant consume time, they said. The meeting, however, has asked the concerned special assistant to finalise the coal policy within shortest possible time and start woks in the coal sector. It was hinted that coal policy might get its final shape and endorsement within a week, sources said.
The government has already taken policy decision to release maximum gas from power generation for using in coal fired generation. The council of advisers reviewed the coal reserves position in the country and emphasied extractions of the resource to go coal for power generation. The country now experiences around 500 mw stranded power capacity due to gas supply limitation. A decision has been taken not to approve any new gas-based power plant from the existing gas reserves. The council also directed the power ministry to install some non-gas based short-term rental power plants in the Chittagong region under government funds to feed the power-starved port city as they could give power within the shortest possible time.

Dr. Tamim in his presentation showed that the port city will not get rid of load shedding soon as the power plants located in Chittagong cant produce power due to gas shortage, and due to power shortage the PDB could not feed the region through the national grid. The consumption of gas in the last fiscal was around 0.6 trillion cubic feet, although as per the master plan the demand for gas in the country should be 0.6 TCF in 2009-2010. It is learnt that Chief Adviser Dr. Fakhrudding Ahmed expressed deep concern at the power and gas crises in the Chittagong region and asked the power ministry to go for short-term rental plants to serve the port city, as all economic activities there almost ground to a halt due to gas and power shortages.

The government has already taken moves to install seven costly rental power plants, six of them gas-based, in the country but most of the power plants are yet to come into operation as the errant companies selected by the government missed deadlines several times. None of the plants, however, are located in Chittagong. It may be mentioned that despite having serious objections from the Power Development Board (PDB), the Power Division adopted the idea to implement the high-cost rental power plants at the fag end of the BNP-led coalition governments tenure.

Lately, the government has been planning to install the costly (it would be costlier as it would be non-gas based) plants again as it has no other alternatives, a meeting source said. Chittagong is running gas and power shortages. It is getting 40-50 mmcfd less gas than required. On the other hand, the average load shedding in Chittagong is 190 MW to 200 MW. The demand of electricity in Chittagong is 490 MW, a PDB official said. .The country at present is experiencing around 1,500MW of load shedding as the PDB generates around 3,200MW of electricity against a demand for around 4,700MW. Chittagong now faces electricity shortage of around 190MW against its demand for around 490MW while gas shortage in the city has been estimated at around 100 million cubic feet per day.Even if rental plants come into operation, the situation in Chittagong will not improve much as the Chittagong power plants like Raujan and Shikalbaha are facing gas shortage. Power from other parts of the country cannot be transmitted there as it will create voltage problems. Chittagong needs local power plants, said the source.

Tamim, however, apprised the meeting that the electricity situation in the port city would improve slightly after the Kaptai hydropower plant increases production.The meeting also asked the ministry to expedite the process to increase gas supply by enhancing the capacity of pipeline and completing work-over programmes on some of the wells in different gas fields


http://phulbariproject.wordpress.com/2008/07/08/cg-for-quick-use-of-coal-for-electricity/

Govt stresses coal as a fuel for electricity generation
Posted by phulbarinews on July 14, 2008

R Akter

The government plans to stop using natural gas for electricity generation after 2011, as it faces shortages of fossil fuel..

At present 85 percent of electricity is produced by natural gas. Because of the gas shortage, Tamim suggested use of coal as a fuel for electricity generation. Bangladesh has five coal fields with more than 2.55 billion tonnes of reserves, officials said. To meet the 300 times more demand for electricity we will require to invest up to $10 billion over the next 20 years, Tamim said. He said entrepreneurs from Bangladesh will be allowed to invest 51 percent in state-run plants to modernise them, which will help to raise power generation by at least 2,000 MW.

The reserves of natural gas are depleting fast and the country is now facing up to 150 million cubic feet (mmcfd) of gas shortages every day, said Jalal Ahmed, chairman of Petrobangla, government oil and gas agency. Only 30 percent of Bangladeshs more than 140 million people have access to electricity, he said.

The present per capita electricity consumption is 117 KWH (kilo-watts hour), nearly 6 percent of the world average, he said. Because of old plants, Bangladesh on average can produce only 3,200 megawatts (MW) of electricity, against an installed capacity of 5,200 MW, officials said. Over the next 20 years as we plan to become a middle income country by raising our economic growth to at least 10 percent from 6 percent now, the country will have to produce about 13,000 MW, Tamim told a meeting attended by senior officials, business leaders, representatives of development partners and energy experts.

Natural gas is the prime feedstock for producing fertiliser, vital to raise grain production to ensure food security in the country. Also government plans to open its power sector to private investment to help it out of a long-running and deepening crisis, official said. A policy is being finalised to give private sector full support, which will enable them to invest even in the state-run power plants and make then more productive, said M. Tamim, special assistant to the chief of Bangladeshs caretaker government, responsible for power, energy and mineral resources.

Source: http://www.weeklyeconomictimes.com/news-details.php?recordID=1326

Date: 13 July 2008, Bangladesh

Chart looks really bad. Going south again.

ok what ever you say but ...... chart looks up 2day to me !! yawn !

Draft coal policy goes to cabinet soon for approval Provisions for both open pit and underground mining
So far, six coal fields with a total reserves of 2.55 billion tons have been identified, mainly in northern region


The draft coal policy with options for open pit and underground mining is being sent this week to the cabinet division for government approval.Full compensation including rehabilitation of those affected by the mining was provided in the draft policy.(UNB) FULL STORY


http://newsfrombangladesh.net/

are you just playing with yourself on here smiler? and to think i took the time to register on your recs!

Nice of you to join me, !!!!!!!!!!!!!!!!!!! got your mail ; )) I do prefer the stockwatch and lay out on money am ; )

July 17, 2008


Bangladesh should mine coal before gas is depleted Expert
It is reported that experts from Bangladesh have asked Bangladesh to mine its huge coal reserves before its fast depleting natural gas reserves run out. They however urged the country to tap the resource carefully to avoid human tragedies associated with coal mining.

Bangladesh faces a serious energy crisis, with lack of gas to produce electricity. The crisis is set to worsen by 2011 when its gas reserves could run out and attention is increasingly turning to its vast coal resource.

It has already suffered a setback trying to mine coal in the northern Phulbari area, where Britains Global Coal Management Public Limited Company had to halt activities two years ago after violent protests by local residents and environmentalists, saying the project would displace at least 40,000 villagers and severely damage the environment. At least three people were killed and dozens injured in clashes with police at Phulbari in Dinajpur district.

Mr Ajoy Kumar Ghose a former professor of the Indian School of Mines during a Dhaka meeting attended by senior officials and representatives of development partners said that Phulbari is the crown jewel in coal inventory of Bangladesh and its development will help transform the economy of the nation. But the government should launch advertisement advocacy for assuaging the sentiments of project affected people so that development and execution of the project can be facilitated.


http://www.steelguru.com/news/index/2008/05/18/NDU4Njg%3D/Bangladesh_should_mine_coal_before_gas_is_depleted_%252526%2525238211%25253B_Expert.html