World LPG Association (WLPGA) sees Bangladesh as one of the fastest-growing LPG markets across world and predicted that demand for the fuel might reach upto 3.0 million tonnes by 2025.
WLPGA director David Tyler came up with the observations on Wednesday while addressing the closing ceremony of ‘5th Asia LPG Summit 2018’ at International Convention City, Bashundhara (ICCB) in Dhaka.
He, however, said infrastructure needs to be developed maintaining the highest safety measures.
In his speech, state minister for power, energy and mineral resources Nasrul Hamid urged the companies operating in the country's LPG sector to maintain quality of fuel and keep the price within the means of general consumers.
He also suggested the sector people diversify their products for different types of consumers—from industrial to the community.
The state minister made the suggestions at the two-day summit that was organised by the WLPGA, All Event Groups, Singapore and Global Event Management Services Ltd with the support from the ministry of power, energy and mineral resources.
Vice-president of the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) Sheikh Fazle Fahim and Intraco Group managing director Md Riyadh Ali also spoke.
Noting that the reserve of natural gas in the country is reducing fast, Mr Hamid said the government had been promoting the use of LPG in the last couple of years to decrease pressure on gas.
He said LPG should be in the private sector so that the government has issued 50 licences to do business in the potential sector.
The state minister also stressed better marketing by the LPG sector companies so that the consumers can get to know what LPG solution they need in the households or industrial units.
The companies are concentrating only on cylinder LPG for domestic use, he added.
Speaking at the programme, Mr Fahim said the Asia LPG Summit was arranged for the second time in the country, which indicated the potential of the sector in Bangladesh.
He also said that the FBCCI has been requested to become an observer of the WLPGA so that it can connect Bangladesh's business people with global companies.
The summit was arranged with a view to supporting sustainable growth in the LPG industry of the country, focusing on framing suitable policies and attracting infrastructural investment in the sector.