State Minister for Power, Energy and Mineral Resources Nasrul Hamid today said contribution of natural gas to the economic prosperity is immense.

“On August 9, 1975, Bangabandhu purchased five gas fields (Titas, Habiganj, Rashidpur, Kailashtila and Bakhrabad) from the then British oil company Shell Oil for a nominal price of 4.5 million pound sterling (Tk. 17.86 crore) and brought into state ownership,” he said through a video conference from his secretariat office.

Addressing a function of installation of a memorial plaque titled ‘Contribution of Father of the Nation Bangabandhu Sheikh Mujibur Rahman in Fuel Security’ at Titas, Habiganj and Bakhrabad Gas Fields, Nasrul Hamid said the gas fields are still contributing effectively to keep the wheels of Bangladesh economy moving.

Later, the memorial plaque was installed at Rashidpur and Kailashtila.

The state minister said with the bold step of Bangabandhu people’s right to domestic gas supply and distribution was ensured, adding, “This memorial will encourage the future generations to work for the country.”

He said till June 2023, 10.26 trillion cubic feet gas was extracted from those gas fields and its current financial value is Tk. 6,21,000 crore.

“As of July 2023, 5.23 trillion cubic feet gas was reserved worth about Tk 3,17,000 crore. Economic value is more than the financial value,” Nasrul Hamid added.

Among others, Managing Director of Bangladesh Gas Fields Company Limited Md Abdus Sultan and Petrobangla Chairman Janendra Nath Sarkar spoke on the occasion.