Bangladesh will be free from power and energy crisis by the next three years, says the Prime Minister's Energy Adviser Toufiq-e-Elahi Chowdhury, reports bdnews24.com.

"This government's tenure is up to 2014, but we hope to resolve the crisis by the end of 2012," Toufiq-e-Elahi Chowdhury told reporters Friday after inaugurating the International CNG Fair at the Bangabandhu International Conference Centre.

He also informed the media about a government initiative to import LNG (liquefied natural gas).

"We are also adopting other alternative sources like solar energy and nuclear power," added Chowdhury.

Meanwhile, the chief of the state oil and gas corporation said that they would increase the gas reserve significantly by the next two years.

"We would also double the production [of gas] within two years," Hossain Mansoor, the chairman of Petrobangla, told journalists.

Earlier, speaking at the inaugural ceremony, the Premier's adviser stressed efficient use of resources like gas as the country was facing a severe shortage in the wake of soaring demand.

"But the [CNG conversion and refuelling] industry needs to pay more attention to promote the safety issues among the users."

He also asked the stakeholders to verify whether the widespread use of CNG qualifies Bangladesh for Carbon credit.

Carbon credit is a permit that allows the holder to emit one ton of carbon dioxide. Credits are awarded to countries or groups that have reduced their greenhouse gases below their emission quota.

Carbon credits can be traded in the international market at their current market price.

The four-day CNG fair, the second of its kind, is being participated by at least 100 local and foreign companies, according to the organisers.

Fifty local companies along with enterprises from 20 countries will be showcasing their machinery and products that are run on CNG (condensed natural gas).

A statement by the organisers says that there are 130 CNG conversion centres and about 500 refuelling stations in the country catering about 172,000 million automobiles.