Third floating LNG terminal is being set up at Maheshkhali in Cox’s Bazar

The government has decided to set up the third floating LNG terminal (FSRU) at Maheshkhali in Cox’s Bazar. The capacity of this terminal will be 600 mmcf. The proposal of Summit Oil and Shipping Company Limited to establish the floating LNG terminal has been approved in principle by the Cabinet Committee on Economic Affairs. Finance Minister A.H.M. The meeting of the Cabinet Committee on Economic Affairs was held under the chairmanship of Mustafa Kamal. At the end of the meeting, Additional Secretary of the Cabinet Division Syed Mahbub Khan announced the decision of the meeting. He said that the proposal of Summit Oil and Shipping Company Limited to set up a third floating LNG terminal with a capacity of 600 mmcf per day at Maheshkhali in Cox’s Bazar by Petrobangla under the Department of Energy and Mineral Resources has been approved in principle. There are two LNG terminals. USA’s Accelerate Energy and Summit Group built these two terminals with a capacity of 500 million cubic feet per day in Maheshkhali. Among them, Accelerate Energy signed an agreement with Petrobangla on July 18, 2016 to build a floating LNG terminal in Maheshkhali. After the construction, the company started supplying gas on August 19, 2018. The terminal has a 15-year gas supply contract till 2032. However, in the meantime, the term of this terminal contract has been extended till 2038. On April 20, 2017, the Summit Group, a local energy sector company floating in Maheshkhali, signed the contract for the construction of the LNG terminal based on the same technology. Then the company started supplying gas on 30th April 2019. The term of this terminal is till 2033. Meanwhile, due to the impact of cyclone Mokha, the supply of two floating LNG terminals is temporarily stopped.