Govt Plans to Set Up Three More LNG Terminals
05.24.2023 By Tank Terminals - NEWS

May 24, 2023 [Daily Observer]- The government has planned to set up three more liquefied natural gas (LNG) terminals in addition to the existing two currently being operated to regasify imported gas.


Besides, the existing two floating storage and regasification unit (FSRU) will also be extended to 630 mmcft per day from 500 mmcft.

The proposed three new LNG terminals will be set up in Payra, Moheshkhali and Matarbari whose total regasification capacity would be 2000 mmcft per day including two floating and another land based.

Two floating terminals with 500 mmcft capacity will be set up at Payra and Moheshkhali while the land based terminal with the production capacity of 1000 mmcft will be set up at Matarbari.

Negotiations for signing agreement with foreign and local investors have been going on.

“Agreements with those investors may be signed by the current year,” Md Kamruzzaman Khan,Petrobangla Director of Operation told the Daily Observer on Saturday.

Petrobangla sources said that Excelerate Energy of USA has made an offer for the Payra site while Summit Group made an offer for Moheshkhali.  Petrobangla has shortlisted 12 firms for the Matarbari site, sources said.

If the government gives approval for setting up the terminals, it will take 3-5 years to get them installed and ready for operation, Petrobangla source said.

Presently two floating LNG terminals have been in operation since 2018, of which one was set up by Excelerate Energy at Moheshkhali of Cox’s Bazar with 500 million cubic feet per day while another with the same capacity was set up by the Summit Group in the same area.

With the operation of three terminals including the extension of the existing terminals, the LNG production of the country will rise to 3200 mmcft per day.

Current demand of gas in the country is 4000 mmcft per day. But Petrobangla can supply only 3000 mmcft per day, Petrobangla sources said.

In future the demand of the country will increase furhter. So, there is no alternative to boost up production of gas in the country.

Meanwhile, the floating storage and regasification unit (FSRU) of Petrobangla went into operation on Saturday night after remaining suspended for 8 days.

A two-day disruption in the supply from LNG terminals inflicted by Cyclone Mocha has laid bare the energy crisis Bangladesh is facing, with power stations and factories forced to suspend or reduce production.

Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

BASF and Stolt Tankers Introduce the Low-Water Chemical Tanker Stolt Ludwigshafen During Ship Christening Ceremony
05.29.2023 - NEWS
May 29, 2023 [Stolt Neilsen]- On May 26, 2023, the new low-water inland tanker Stolt Ludwigshafen... Read More
Turkey, Iraq Seek to Boost Trade at Summit in Erbil
05.29.2023 - NEWS
May 29, 2023 [Rudaw]- Erbil on Sunday hosted the seventh Turkey-Iraq investment and trade summit,... Read More
Oil Supply won't be Affected by Stricter Price Cap Enforcement, IEA says
05.29.2023 - NEWS
May 29, 2023 [Reuters]-  “It may have some impact but countries once again reiterated that... Read More
Hedge Funds’ Ultra-Bearish Oil Bets Signal US Recession Angst
05.29.2023 - NEWS
May 29, 2023 [The Business Times]- MONEY managers who trade derivatives linked to oil and fuel p... Read More