Bangladesh resumes LNG spot purchases as fuel demand rises
Officials said that Bangladesh had issued three tenders for the purchase of liquefied gas (LNG) on the spot market. The move was made as the fuel demand increased following the end of the anti-government demonstrations and the restart of the main Summit LNG terminal. Officials said that the state-owned Rupantarita Prakritik Gas Company is responsible for LNG imports and has requested three LNG cargoes each containing 138,000 cubic metres. Two deliveries will be made in the first week of Octembre, and another one in the second. The tenders were the first to be issued by the interim administration led by Nobel laureate Muhammad Yunus.
Officials say that Bangladesh will buy LNG spot cargoes through an open tender.
Two Petrobangla officials announced on Thursday that Bangladesh will purchase LNG spot from the international market via an open bid rather than through a private one. One official said that before, bidders used to submit their price quotes by email or internal application at short notice and the contract was awarded to the lowest-bidder. One official said that the change was made to increase transparency. The process of importing LNG will now be governed by public procurement rules. This will take more time than before.
Qatargas Delivers 1st Cargo to Summit LNG
The world’s largest liquefied natural gas (LNG) producer Qatargas Operating Company Limited (Qatargas) has delivered the first Q-Flex cargo of the chilled fuel to the Summit LNG floating storage and regasification unit (FSRU) located offshore Bangladesh.The cargo, aboard Qatargas-chartered 'Al Safliya', was loaded at Ras Laffan Port on 27 December 2019 and delivered to the FSRU on 14 January 2020.This is the first commercial open water ship-to-ship transfer involving a Q-Flex vessel delivering to Petrobangla (LNG buyers) at their Summit LNG Terminal (SLNG).SLNG is a project jointly developed by Excelerate Energy and the Bangladesh Oil…
Petrobangla Gets 1st Q-Flex LNG cargo from Qatargas
Qatargas made its first liquefied natural gas (LNG) cargo delivery (LNG) on a Q-Flex vessel to the Floating Storage and Regasification Unit (FSRU) named ‘Excellence’ and known as Moheshkali LNG Terminal (MLNG), located offshore Bangladesh.According to a press release from the Qatargas Operating Company, the cargo, aboard Qatargas-chartered ‘Al Thumama’, was loaded at Ras Laffan on 4th September and delivered to MLNG on 20th September 2019. This is the first commercial open water ship-to-ship transfer involving a Q-Flex vessel.
FSRU Suppliers Shift from Emerging Markets, Cut Back New Orders
Political instability and low credit ratings in emerging economies are putting some shipowners off ordering new floating storage and regasification units (FSRUs), as they shift focus to more mature gas markets.Liquefied natural gas (LNG) demand from emerging markets in Asia, Africa and South America was expected to be boosted by FSRU technologies that are less expensive and time-consuming than onshore import terminals.But a boom in speculative FSRU orders from shipowners led to an oversupply of units this year as import projects across the world were delayed or cancelled…
Bangladesh Resolves FSRU Issues
Bangladesh will resume liquefied natural gas (LNG) imports this week after resolving issues with its sole floating storage and regasification (FSRU) unit, a senior official said on Monday.Two cargoes, meant to be delivered on Nov. 7 and Nov. 15, had been cancelled as the FSRU was closed due to problems with a hydraulic line that operates an emergency shutdown valve."The problem with the hydraulic line has been resolved now," said Mohammad Quamruzzaman, managing director of Rupantarita Prakritik Gas Co, the unit in-charge of LNG imports at state-owned oil firm Petrobangla.The next cargo with 140,000 cubic-meter LNG will arrive on Nov.
Bangladesh Shelves LNG Projects as Others Ramp Up
Bangladesh has put aside two smaller liquefied natural gas (LNG) projects with trading houses Gunvor and Vitol to focus on two larger LNG import terminals, one of which is already in use while the second will start up in March.Bangladesh has turned to LNG to offset falling domestic gas output to feed industrial demand and electricity generation in a nation of 160 million people where a third have no power supply.It aims to import 17 million tonnes a year of LNG by 2025, which in today's terms would make it a top five importer.
Excelerate Energy Commissions Bangladesh’s First LNG Import Terminal
Excelerate Energy Bangladesh completed the commissioning of its Moheshkhali Floating LNG (MLNG) terminal – Bangladesh’s first liquefied natural gas (LNG) import facility – signifying the official commencement of operations for the project.This milestone was achieved approximately 25 months after the execution of project agreements, which took place in July 2016, with the state-owned Bangladesh Oil, Gas & Mineral Corporation (Petrobangla) and 13 months following the receipt of all permits required to achieve financial close in August 2017 with its lenders…
Mitsubishi to Acquire 25% Take in Bangladesh LNG Terminal
Japan’s Mitsubishi Corp has agreed to take a 25% interest in Summit's Bangladesh LNG import terminal project - which will be the country's second such terminal.The other 75% of the Summit LNG terminal will remain with Summit Corp.Mitsubishi is planning to help in the development of an offshore receiving facility in the country. It will also develop a liquefied natural gas (LNG) receiving terminal that uses a floating storage and regasification unit (FSRU) in Bangladesh.Under the project, Summit LNG will install an FSRU 6 kilometre off the coast of the island of Moheshkali in the Cox’s Bazar district in Bangladesh…
Bad Weather Stalls Bangladesh FSRU Hook Up
A vessel that arrived in Bangladesh in April to offload its maiden cargo of liquefied natural gas and moor permanently as an import terminal should begin operations "within a week" after bad weather hampered its start-up, an official said on Thursday.The floating storage and regasification unit (FSRU) will allow Bangladesh to import LNG for the first time as its domestic gas production falls and will boost several power projects in a nation where 30 percent go without electricity.Since its arrival at Moheshkhali…
Bangladesh Drops Trafigura in LNG Talks as Gunvor Advances
Bangladesh has terminated talks with Swiss-based commodity trader Trafigura to install a small floating liquefied natural gas (LNG ) import terminal due to delays in agreeing terms, while rival trader Gunvor advances with a separate project. Once considered an energy backwater, Bangladesh's LNG demand is set to hit 17.5 million tonnes annually by 2025 after importing its first cargo last month, and as traders target Southeast Asia's booming gas markets to boost sales. Swiss-based commodity traders Trafigura, Vitol and Gunvor were all pursuing LNG import projects in Bangladesh…
Bangladesh Finalizes LNG Deal with Oman Trading International
Bangladesh has finalized a 10-year deal to import 1 million tonnes of liquefied natural gas (LNG) annually from Oman Trading International, two energy officials with direct knowledge of the matter told Reuters.The deal with Oman Trading is Bangladesh's second LNG import agreement after Qatari producer RasGas, which has since merged with sister company Qatargas, to cover the country's domestic natural gas shortfall.The LNG will be priced at 11.9 percent of the three-month average price of Brent plus a $0.40 per million British thermal unit (mmBtu) constant…
Bangladesh Inks Deal with Indonesia for LNG Imports
Bangladesh signed an agreement with Indonesia on Sunday to open talks on imports of liquefied natural gas (LNG), as the South Asian country turns to the supercooled fuel to fill a shortfall of domestic natural gas. A letter of intent was signed between two state energy companies, Petrobangla and Pertamina, after a meeting between Prime Minister Sheikh Hasina and Indonesian President Joko Widodo, who arrived in Dhaka on Saturday. Bangladesh, a country of more than 160 million people, may import as much as 17.5 million tonnes of LNG a year by 2025, as its domestic gas reserves dwindle and demand grows.
PSA Marine to Provide LNG FSRU Services in Bangladesh
Summit Power International (SPI), Singapore, announced that its subsidiary, Summit LNG Terminal has awarded a 15-year contract to PSA Marine Bangladesh, a subsidiary of PSA Marine. Under the contract, PSA Marine Bangladesh will provide berthing, mooring, pilot and personnel transfer services to LNG ships calling at Summit LNG FSRU terminal, with its three escort tugboats, one fast crew boat and one offshore supply vessel. The award of this contract marks a significant milestone for PSA Marine and commencement of a long-term partnership with SPI. Together with Summit LNG, PSA Marine Bangladesh targetsto commence operations in early 2019.
Bangladesh, Qatar to Ink 15-year LNG Import Deal
Bangladesh to take 1.8 mln T a year first 5 years, along with more spot cargoes. Bangladesh will sign a 15-year deal with Qatar's RasGas Co to import liquefied natural gas (LNG) starting in 2018 as the South Asian country turns to the supercooled fuel to fill a domestic supply gap for power generation, two officials told Reuters. The deal will be signed on Sept. 25 in Qatar, said Mohammad Quamruzzaman, managing director of the Rupantarita Prakritik Gas Co, a unit of state-owned oil firm Petrobangla. Under the deal…
Bangladesh shortlists Trafigura, Gunvor for LNG Terminals
Bangladesh has shortlisted global commodity traders Trafigura and Gunvor to arrange the installation of two floating liquefied natural gas (LNG) import terminals in 2018 as the country transforms into a major LNG consumer. "Trafigura and Gunvor have been shortlisted out of 13 companies for two 200 million cubic feet/day LNG import terminals," a director at state-run energy firm Petrobangla's LNG division told Reuters. Petrobangla will hold talks with the companies and deals will then be finalised, he added. Industry sources say Bangladesh wants the terminals…
Petrobangla, Summit Pact for 2nd LNG Terminal
Bangladesh's State-owned Petrobangla has inked final deals with Summit LNG Terminal Co to development the country's second floating LNG terminal. The Financial Express reported that Summit group will install a Floating Storage and Re-gasification Unit (FSRU) at Moheshkhali Island in the Cox's Bazar. The terminal will have 500 million meter standard cubic feet per day (mmscfd) capacity, which would go on operation after 18 months. The cost of the second project is estimated at $400 million-500 million, which Summit will implement jointly with US based General Electric as an 20% equity investment partner.
Petrobangla, Excelerate Energy Deal for LNG terminal
Petrobangla has signed an agreement with Excelerate Energy Singapore Pte Ltd to establish a floating storage and re-gasification unit (FSRU) at Maheshkhali to facilitate the supply of 500 mmcfd imported liquefied natural gas to the country. Syed Ashfakuzzaman, secretary of state-run Petrobangla, and Karlman Tham, business development manager for Asia region of Excelerate Energy, signed the deal at Petrobangla in Dhaka. Under the agreement, the EEBL, a subsidiary of US-based Excelerate Energy, will build the country’s…
Bangladesh's Summit Group, GE Start Power Plant
A joint venture of Summit Group, Bangladesh's leading power producer, and a unit of General Electric Co has started a plant initially supplying up to 240 megawatts (MW) of electricity to the country's national grid as it seeks to plug a shortfall in electricity supply. Bangladesh's current production capacity of 7,000 MW falls far short of its demand of 10,000 MW, with only 65 percent of its 160 million population having access to the national grid. The new combined cycle plant is located in the north western district of Sylhet, 278 kilometers (174 miles) from Dhaka.
Bangladesh’s First LNG Import Terminal in the Works
Excelerate Energy and Petrobangla have reached agreement on terms for the development and operation of Bangladesh’s first LNG import terminal. The agreement includes the provision of one of Excelerate’s existing floating storage and regasification units (FSRU) under a 15-year long-term charter, as well as the design and construction of the facility. Located offshore near Moheshkhali Island in the Bay of Bengal, the terminal will provide much needed natural gas to the southeastern Chittagong region of Bangladesh. The facility will include the installation of a subsea buoy system anchored offshore.
