Titas Gas Transmission and Distribution Company PLC

Titas Gas is currently facing a severe gas supply shortage that has caused the closure of over 550 industrial factories and a backlog of 1,800 new connection applications.

Titas Gas was founded on 20 November 1964 following the discovery of gas at the Titas gas field in Brahmanbaria in 1962 (then East Pakistan); commercial gas supply commenced 28 April 1968 to the Siddhirganj Thermal Power Station via the Titas-Demra pipeline. It is a subsidiary of Petrobangla and listed on DSE and CSE (ticker: TITASGAS). Pipeline network: 13,421 km (as of June 2024). Consumers: approximately 2.87 million total (2.85 million residential, ~12,000 commercial, ~5,400 industrial, ~1,755 captive power, ~396 CNG stations) per company disclosures cited in TBS and Daily Star. Staff count of 1,942 sourced from 2025 company profile data; an older 2020 estimate cited 2,100. MD appointment: Shahnewaz Parvez served as acting MD from September 2024 after the interim government's transition; made permanent by Petrobangla office memo on 19 May 2025. Financial losses: three consecutive loss years (FY23 Tk 165 cr, FY24 Tk 744 cr, FY25 Tk 772 cr) driven by system loss far above the 2% regulatory threshold (FY25: 9.47%; Q1 FY26: 10.13%), minimum tax applied as source tax despite net losses, and a compressed distribution margin. Government's target is 50% system loss reduction by June 2026 via aggressive illegal connection enforcement. Smart meter project (WB + ADB financed, 1.75 million meters) has PMC appointed; implementation now targeted H2 2026 after delays. Titas-31 deep well (5,600 m depth, Brahmanbaria Sadar; CCDC contractor; Tk 594 crore for two wells including Bakhrabad) is Bangladesh's first deep exploratory gas well; drilling began 19 April 2026, 22% complete as of 5 May 2026; seismic surveys indicate 1.0-1.5 tcf potential reserves. BSEC approved preference share issuance on 15 April 2026; EGM approval was 24 December 2025. Titas gas supply shortfall: franchise area daily demand ~1.9 bcfd vs actual receipt 1.52-1.53 bcfd; power sector allocation has risen from 230 mmcfd to 360-370 mmcfd, displacing 130-140 mmcfd from industry. Annual budget (BDT) not filed in this record: revenue for FY25 (full year) is approximately Tk 35,000+ crore based on H1 data (Tk 17,472 crore for Jul-Dec 2024); precise full-year revenue not confirmed in a single primary source.