Diversification of supply sources has become a strategic priority

Caspian Energy (CE): Azerbaijan and Bangladesh share a mutual interest in strengthening economic ties. During your recent visit to the Baku Energy Forum, Bangladesh signed a key agreement with SOCAR for petroleum products and advanced discussions on LNG supplies. How do you envision these new import channels with Azerbaijan shaping Bangladesh's long-term energy security strategy?

Iqbal Hassan Mahmood, Minister of Power, Energy and Mineral Resources of Bangladesh: A Memorandum of Understanding (MoU) on ‘Cooperation in the Energy Sector’ was signed between Bangladesh and Azerbaijan on 7 November 2025. Our government assumed office in February this year, and we were keen to get a tangible outcome of this MOU. As a result of our efforts, a short-term LNG supply arrangement on a G-to-G basis with SOCAR Trading SA, Switzerland, has already been approved by the competent authorities, and we expect the agreement to be signed shortly.

For Bangladesh, ensuring long-term energy security requires both increasing domestic energy production and securing reliable external sources of fuel. While we are implementing a rigorous program to enhance domestic gas production, the country's growing energy demand will require additional LNG imports in the coming years. Therefore, thediversification of supply sources has become a strategic priority.

Recent global energy market disruptions have highlighted the risks of excessive dependence on a limited number of suppliers and shipping routes. In this context, the LNG supply arrangement with SOCAR opens a new avenue for Bangladesh to diversify its energy import portfolio and strengthen supply security. I hope this cooperation will expand further in the future, contributing to the energy security of Bangladesh and creating a mutually beneficial partnership for both countries.