The vessel titled ‘Summit LNG’ with Floating Storage and Regasification Unit (FSRU) of Summit has arrived at Bangladesh’s designated coordinates in the Bay of Bengal ahead of schedule.
On April 20, 2019, the vessel was moored 6 kilometers off the island of Moheshkhali in Cox’s Bazar. Summit has time chartered to purchase this vessel from USA’s Excerelate Energy for 15 years and it has now carried LNG (Liquified Natural Gas) from Qatar.The FSRU will send out Regasified Liquified Natural Gas (RLNG) via subsea pipeline connected to the national grid. Summit LNG is able to regasify 500 million cubic feet of LNG daily (mmcfd).
On the occasion the Founder Chairman of Summit Group Muhammed Aziz Khan remarked, “Summit is working towards achieving power and energy sufficiency in Bangladesh under the bold leadership of the government. We are pioneering adaptation of cutting-edge technology for most economical, efficient and sustainable energy solutions to enable graduation to a developed country. Summit is promised bound to provide least cost environment-friendly solutions.”
About Summit LNG Terminal Co Ltd:
Summit LNG Terminal Co Ltd (SLNG) is a subsidiary of Summit Power International (SPI) and is a company of Summit – Mitsubishi consortium. Mitsubishi, the Japanese trading giant, acquired 25% of SLNG in August 2018 and is represented in the Board of Directors of the company. Originally receiving a concession from Petrobangla, Bangladesh’s state-owned company in 2017 to develop a floating LNG terminal facility comprising of a storage and regasification unit, this project is part of SPI’s USD 1 billion investment programme by 2020 to deliver power and gas to Bangladesh. SLNG had awarded Geocean SAS (of France) and Macgregor (of Norway) turnkey contract for marine work for its Floating LNG Storage and Regasification Terminal (FSRT) and PSA Marine (of Singapore) for Support Vessel Services at Moheskhali, Cox’s Bazar while the vessel “Summit LNG” is chartered to purchase from Excelerate Energy of USA.