With the signing of the memorandum of understanding we have diversified the sources for producing electricity, Tawfiq said.

Tawfiq said that Bangladesh laws allow the peaceful utilization of nuclear energy.

Rising concern over a shortage of power led Bangladesh to mull over nuclear as natural gas reserves were fast depleting.

Energy officials said that the breach between demand and supply of natural gas will be wider after 2011 unless new gas fields are discovered and explored.

Bangladesh has 13.54 trillion cubic feet of proven and recoverable gas reserves but it still faces up to 250 million cubic of gas shortages a day, energy officials said.

Bangladesh’s electricity deficit can reach 2,000 MW due to power plants which are up to 60 years old.

It is a very important and historic moment for us with the entering of a deal and we can ensure Bangladesh will supply the best technology in setting up the nuclear plant, said N.N. Spasskiy, director general of Russian State Energy Corporation (Rosatom).