Deal with Excelerate Energy at final stage

LNG terminal

The government is in the final stage of inking a deal with Singapore-based Excelerate Energy Limited for building the country's first floating liquefied natural gas (LNG) terminal on Moheshkhali Island in the Bay of Bengal, said a Petrobangla official yesterday.
Md Quamruzzaman, Petrobangla Director of PSC, told The Independent that the deal will probably be signed on the first week of January.
"We're now in discussion with Excelerate Energy Limited to resolve some issues. It might take another 10-15 days," he said, adding that they had previously thought that the deal could be inked by December this year.
Excelerate has carried out a met-ocean study and found building the terminal viable, he said.
On January 25 this year, Petrobangla had inked a term-sheet for the terminal-use agreement with Excelerate to build the floating storage and re-gasification unit (FSRU)—popularly known as an LNG terminal.
Excelerate will also carry out a geo-technical study and detailed engineering design before starting construction of the LNG terminal. The terminal will have a floating storage and re-gasification unit.
From the date of signing the final terminal use agreement, the firm will build the terminal within 16 months and LNG import might start from early 2017. The LNG storage capacity of the FSRU will be 138,000 cubic metres.
Petrobangla will pay 0.474 cents per million BTU (mmbtu) under a build-own-operate-transfer basis for 15 years, and it will receive LNG within a range of 500 million cubic feet per day (mmcfd) and 600mmcfd.

Deal with Excelerate Energy at final stage

LNG terminal

The government is in the final stage of inking a deal with Singapore-based Excelerate Energy Limited for building the countrys first floating liquefied natural gas (LNG) terminal on Moheshkhali Island in the Bay of Bengal, said a Petrobangla official yesterday. Md Quamruzzaman, Petrobangla Director of PSC, told The Independent that the deal will probably be signed on the first week of January. Were now in discussion with Excelerate Energy Limited to resolve some issues. It might take another 10-15 days, he said, adding that they had previously thought that the deal could be inked by December this year. Excelerate has carried out a met-ocean study and found building the terminal viable, he said. On January 25 this year, Petrobangla had inked a term-sheet for the terminal-use agreement with Excelerate to build the floating storage and re-gasification unit (FSRU)popularly known as an LNG terminal. Excelerate will also carry out a geo-technical study and detailed engineering design before starting construction of the LNG terminal. The terminal will have a floating storage and re-gasification unit. From the date of signing the final terminal use agreement, the firm will build the terminal within 16 months and LNG import might start from early 2017. The LNG storage capacity of the FSRU will be 138,000 cubic metres. Petrobangla will pay 0.474 cents per million BTU (mmbtu) under a build-own-operate-transfer basis for 15 years, and it will receive LNG within a range of 500 million cubic feet per day (mmcfd) and 600mmcfd.