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Summit signs $100m deal with consortium for LNG terminal

Summit LNG Terminal Ltd, a subsidiary of Summit Power International, signed a $100 million turnkey contract with a marine work contractor consortium recently.

Under the contract signed, the consortium comprising of Geocean SAS and MacGregor will undertake a project for laying design, engineering, procurement, fabrication, installation and testing of the Fixed Infrastructure (FI) for its proposed Floating LNG Storage and Regasification Terminal (FSRT) at Moheskhali, Cox`s Bazar, said a press release.

The project is to be completed in 16th month from day of signing the contract, according to a statement of the company issued on Tuesday. However, the statement did not say where and when the contract was signed.

The FI will consist, among others, of Disconnectable Turret Mooring (DTM) plug for FSRU (floating storage and regasification unit) vessel system with anchors (suction piles), flexible riser with floatation and tether system, control and hydraulic umbilical, PLEM, Stern Mooring System (SMS) of FSRU vessel offshore pipelines and landfall works.

In August 2017, Summit had signed Time Charter Party (TCP) agreement with Excelerate Energy for securing FSRU vessel.

Summit Power International is a Singapore incorporated leading infrastructure developer and operator in South Asia. It comprises a group of businesses which develop, own and operate power generating assets and FSRU.

Geocean, subsidiary of Entrepose Group, performs turnkey offshore projects under EPCI-type contracts in the oil and gas, mining, chemical industries as well as on the public works market. It builds coastal structural works for power stations, desalination plants, water treatment plants and offshore fields.

MacGregor shapes the offshore and marine industries by offering world-leading engineering solutions and services with a strong portfolio of MacGregor, Hatlapa, Porsgrunn, Pusnes and Triplex brands.

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