DHAKA, - Bangladesh launched an international tender on Sunday for oil and gas exploration in 26 offshore blocks in the Bay of Bengal, offering more attractive terms to foreign companies as it seeks to tackle worsening domestic gas shortages and reduce reliance on costly LNG imports.
The South Asian country has faced declining gas reserves and rising dependence on imported liquefied natural gas (LNG) while energy prices remain vulnerable to geopolitical tensions and supply disruptions linked to the Iran war.
