Bangladesh faced severe nationwide gas and electricity shortages on Monday, with supply disruptions affecting households, transport and industry. The report attributes pressure on liquefied natural gas imports to the US-Iran war, which it says has nearly doubled global LNG prices and made suppliers difficult to secure. Petrobangla data showed gas supply of 2,400 to 2,600 million cubic feet against demand of 4,000 million cubic feet, leaving a shortfall of up to 1,500 million cubic feet.

The gas deficit curtailed electricity generation, industrial output and CNG sales. Gas-based factories reportedly had 70 percent of their production capacity unused, while garment-sector output fell by 30 to 35 percent. Power supply reached 14,300 megawatts against peak demand of about 16,200 to 16,500 megawatts, requiring 2,000 to 2,200 megawatts of load shedding. Rural areas in some cases received only 40 to 50 percent of required power.

The government approved purchases of two LNG cargoes for September from South Korea and the United Kingdom at more than $24 per MMBtu. Finance Minister Amir Khosru Mahmud Chowdhury said resolving the gas and power crisis would take another two years.