The Floating Storage and Re-gasification Unit (FSRU) based Liquefied Natural Gas (LNG) terminal at Moheshkhali is likely to go on operation from 2016.
“The LNG terminal having capacity of 1,38,000 cubic meter is expected to supply 500 million meter standard cubic feet per day (mmscfd) aimed at mitigating growing energy demand in the country,” Secretary of Energy and Mineral Resources Division of Power, Energy and Mineral Resources Ministry Abubakar Siddique told BSS on Saturday.
He said the Singapore-based Astra Oil and Eccelerate Energy Consortium (AEC) would construct the FSRU at Moheshkhali in the Bay of Bengal.
According to the project, the government would sign the final agreement with Astra Oil and Excelerate Energy Consortium (AEC) next September, as authority concerned are scrutinizing and checking the report of the MET ocean study.
The state-run Bangladesh Oil, Gas and Mineral Corporation (Petrobangla) has signed a term-sheet agreement with Astra Oil and Excelerate Energy Consortium on February 25, 2015 for setting up the floating storage and FSRU terminal at its own cost at Moheshkhali Island in the Bay of Bengal.
As per the deal, the contractor will implement the project on Build-Own-Operate-Transfer (BOOT) basis to meet the growing demand of the gas and it would be transferred to the government after the 15 years, it said.
The government would bring LNG from exporting countries like Qatar through procurement for supplying to the FRSU terminal, which LNG would be re-gasified for usable.
The project details said the installation of 91 kilometer gas transmission pipelines with 30 diameters from Moheshkhali to Chittagong has been progressing with satisfactory.
The Petrobangla would also provide USD 90.16 million annually to AEC, while the company will deposit USD two million as Term Sheet Security during signing of the Term Sheet Agreement, it said.
The project details said that the Terminal Company will deposit performance bond USD 20 million during the signing ceremony of Terminal Use Agreement.
Earlier, the state owned Petrobangla signed Term Sheet Agreement with the company on June 26, 2014 aimed at supplying gas 500 mmscfd and completing study with its own finance.
