Government Policy

Deal with Summit for 2nd LNG terminal at Moheshkhali

DHAKA, April 20, 2017 (BSS) - The state-owned Petrobangla today signed a deal with Summit Liquefied Natural Gas (LNG) Terminal Company for installation of a Floating Storage and Re-gasification Unit (FSRU) at Moheshkhali Island in the Bay of Bengal.

The Summit would set up the floating storage and FSRU terminal at its own cost having 500 million meter standard cubic feet per day (mmscfd) capacity, which would go on operation after 18 months.

The Bangladesh Oil, Gas and Mineral Corporation (Petrobangla) has signed the Terminal Use Agreement (TUA) and Implementation Agreement (IA) at its conference room.

Prime Minister's Power, Energy and Mineral Resources Affairs Adviser Dr Tawfiq-e-Elahi Chowdhury, Bir Bikram, witnessed the signing ceremony and said the second FSRU terminal would come to operation before schedule time.

He said the government is working to meet energy demand in the country with various realistic initiatives.

Addressing the ceremony, State Minister for Power, energy and Mineral Resources Nasrul Hamid said Summit LNg terminal would re-gasify imported LNG for meeting the growing demand and ensuring energy security in the country.

"The government has also signed another contract with Excelerate Energy for the implementation of the Moheshkhali floating LNG terminal for LNG delivery in early 2018 to meet energy demand in the country," he said.

Nasrul said that the government encouraged the private sector for installation of various power and energy related plants in the country. Managing Director of Summit LNG Terminal Company Md ANM Tariqur Rashid, Director of GE Global Peter Mackey, Deputy Secretary of the Ministry Zanendra Nath Sarker and Secretary of Petrobangla Ashfak signed two deals on behalf of their respective sides.

Secretary of Energy and Mineral Resources Division Nazimuddin Chowdhury, Petrobangla chairman Abul Mansur Md Faizullah and officials concerned were present at the signing ceremony.

Source: Bangladesh Sangbad Sangstha (BSS)