Dhaka, Friday, December 14, 2018 08:55 PM   
     
Home Energy BD Energy World Green Energy Opinion Interview Environment Business Others Archive
LATEST >
বাংলা সংস্করণ
   
Petrobangla, Summit Group sign deal for 2nd LNG terminal

A company of Summit Group will build a floating storage and re-gasification unit (FSRU)–popularly known as LNG terminal–to process imported LNG into natural gas on a build-own-operate-transfer basis in Cox’s Bazar.

Summit will become the first Bangladeshi company to build FSRU in the country.

Summit LNG Terminal Company signed two agreements with Petrobangla and Energy and Mineral Resources Division (EMRD) for terminal use agreement (TUA) and implementation agreement (IA) respectively for the FSRU with delivery at Gas Transmission Company Limited (GTCL) at Moheshkhali in Cox’s Bazar.

The signing ceremony was hold at Petrocenter in Dhaka on Thursday, according to a press release issued by the Summit Group.

Managing Director of Summit LNG Terminal Company Md ANM Tariqur Rashid, Director of GE Global Gas to Power Infrastructure Peter Mackey, Deputy Secretary of the Energy and Mineral Resources Division Zanendra Nath Sarker and Secretary of Petrobangla Syed Ashfaquzzaman signed two deals on behalf of their respective sides.

According to the deal, Summit will install Bangladesh’s second FSRU with 9 km subsea pipeline at Moheshkhali Island in the Bay of Bengal.

The floating storage re-gasification unit will have LNG storage capacity of 137,000 cubic meter and maximum re-gasified liquefied natural gas (RLNG) pumping capacity of 500 mmcfd at 75-80 barg.

It will be built jointly with 20% equity stake of US-based GE (and Summit 80%) within 18 months after signing of contract.

It will have capacity of supplying 500 million cubic feet of natural gas per day for consumption of Bangladesh.

The Petrobangla will pay 0.45 cents per million BTU (mmbtu)–a measure of the energy content in fuel – for the FSRU.

Summit is offering competitive rate to Petrobangla in comparison to foreign competition on fixed component fee and port service charge, saving Bangladesh US$ 2,500 per day for the project duration.

After 15 years without any cost to Petrobangla, Summit will fully transfer the entire project facilities to government.

On completion of the project, the gas supplied by the FSRU can potentially supply to existing oil-run power plants like Meghnaghat and possibly reduce power generation cost by less than half.

Prospecting, Summit has also requested permission from government to develop gas-fired power plant of at least 750 MW capacity near this FSRU.

 

 

Print PDF

   You may also like

Category: Gas
Bakhrabad Gas Company earns Tk 217.86 lakh in profit

Category: Gas
Govt scraps new floating LNG projects for land-based ones

Category: Gas
Govt resolves FSRU issues, to resume LNG imports

Category: Gas
No gas price hike for now: BERC

Category: Gas
Import duties on LNG withdrawn

Category: Gas
Chattogram LNG supply rises as RasGas vessel docks

Category: Gas
Announcement of gas price hike ‘this week’

Category: Gas
Chattogram starts getting 300mmcfd LNG

Category: Gas
Chevron largest natural gas producer in Bangladesh
     
    RECENT STORIES   MOST READ
    FOLLOW US ON FACEBOOK
    Recent Gas Stories
Bakhrabad Gas Company earns Tk 217.86 lakh in profit
Govt scraps new floating LNG projects for land-based ones
Govt resolves FSRU issues, to resume LNG imports
No gas price hike for now: BERC
Import duties on LNG withdrawn
Chattogram LNG supply rises as RasGas vessel docks
Announcement of gas price hike ‘this week’
Chattogram starts getting 300mmcfd LNG
Chevron largest natural gas producer in Bangladesh
National grid gets additional 16mmcfd of gas from Habiganj field


Explore the energynewsbd.com
Home
Energy World
Opinion
Environment
Others
Energy BD
Green Energy
Interview
Business
Archive
About Us Contact Us Terms & Conditions Privacy Policy Advertisement Policy

   Editor & Publisher: Aminur Rahman
   Copyright @ 2015-2018 energynewsbd.com
   All Rights Reserved | Developed By: Jadukor IT