Even as New Delhi and Dhaka trade diplomatic barbs, Adani Power is quietly tightening its grip on Bangladesh’s electricity lifeline—fuelled by gas shortages, rising demand, and hard economics. In a striking reminder that energy security often outweighs diplomatic discomfort, Adani Power has sharply increased electricity supplies to Bangladesh even as bilateral ties between the two neighbours continue to sour. Bangladesh is grappling with acute natural gas shortages, caused by declining domestic production and bottlenecks in liquefied natural gas imports. “Adani electricity is still cheaper than oil-fired power,” said Ijaz Hossain, an independent energy expert based in Dhaka. “Because of shortages, Bangladesh has no option but to rely on oil-fired plants—and those are far more expensive.”For Adani Power, the moment underscores its growing regional leverage.