Energy Bangla

Petrobangla signed the final deal with Excelerate Energy Bangladesh Limited (EEBL) to build the country’s first liquefied natural gas (LNG) processing terminal.
Today PetroBangla signed the agreement with USA based company Excelerate Energy at Petro Centre. Secretary of Petrobangla Sayed Ashfakujjan and Chief Develpoment officer of Excilerate Danial Bustos signed the deal on behalf of their respective institutions.
Among others, the contract agreement signing ceremony was attended by the Advisor to the Prime Minister of Bangladesh on Power, Energy, and Mineral Resources, Dr Tawfiq-e-Elahi Chowdhury. He addressed the function as chief guest while State Minister for Power, Energy and Mineral Resources Nasrul Hamid joined it as special guest.
Under the agreement, Excelerate Energy, will build the floating storage and re-gasification unit (FSRU) – popularly known as LNG terminal – at Maheshkhali of Chittagong on a build-own-operate-transfer basis.
The EEBL will build the terminal within 18 months of signing the deal. The import of LNG may start in early 2018.
Petrobangla will have to pay a total of $90 million as terminal charges excluding tax, VAT and insurance fee to the terminal operator to use its facilities. It will pay about $159,186 per day as fixed component of fees; $45,814 as operating component fees; and $32,000 to the terminal operator.
Petrobangla took the initiative to install the LNG terminal six years ago considering the country’s ongoing gas crisis.
The agreement with the EEBL will be signed under the Speedy Supply of Power and Energy (Special Provision) Act 2015. The state-owned Gas Transmission Company Limited has also moved to lay a 91km gas transmission pipeline from Maheshkhali to Anwara to carry the re-gasified LNG to the mainland.