State-owned Bangladesh Oil, Gas and Mineral Corporation, also known as Petrobangla, has signed a term sheet agreement for using LNG re-gasification terminal with a consortium of local Hong Kong Shanghai Manjala Power Limited (HSMPL) and Malaysia’s Global LNG and Petronas LNG Limited. The floating storage and fixed jetty based re-gasification unit – popularly known as liquefied natural gas (LNG) processing terminal – will be set up by the consortium at Kutubdia island in Cox’s Bazar. This will be the third firm – after US-based Excelerate Energy and local Summit Group – to set up an LNG floating terminal. The country’s first LNG terminal, a 3.75-million-ton-per year FSRU (floating storage, regasification unit) being constructed by Excelerate Energy Ltd, is expected to be commissioned in April 2018. LNG, which will be imported by Petrobangla from Qatar, Oman and Switzerland, will be added to the national gas grid.

Source: Dhaka Tribune October 18, 2017 03:45 UTC