Petrobangla declines Liberia-flagged cargo
Bangladesh’s state energy company Petrobangla has declined to unload the LNG supplied by Saudi Aramco after the carrier Alhamra, built in 1997, failed to satisfy the technical and safety standards required for unloading at the country’s floating LNG terminal at Moheshkhali. The Liberia-flagged Alhamra is carrying about 61,000 tonnes of LNG.
LNG importers seek optionality, not just molecules
Optionality, not just molecules, is what LNG buyers are scrambling for as spare capacity shrinks and shipments from Qatar remain constraint. As sources for ‘safe’ supply become finite, each new shipping disruption has a greater impact on prices and procurement decisions, analysts warn.
Bangladesh pushes to secure 80% of Qatari contract volumes
Petrobangla is scrambling for spot LNG after QatarEnergy extended its force majeure until July 16, although the Bangladeshi state company keeps negotiating to receive at least 80% of its contracted LNG cargoes from Qatar.
US LNG floating terminal specialist Excelerate Energy reports strong earnings and Bangladesh supply deal
Excelerate Energy Inc., the specialist US company for LNG floating storage and regasification projects from South America to the Nordic region and South Asia, has posted strong earnings as its cargo trading portfolio continues to grow.
Bangladesh deal
June 2 (LNGJ) - QatarEnergy has entered into a long-term LNG Sale and Purchase Agreement with Bangladesh Oil, Gas and Mineral Corp. (PetroBangla) to supply about 1.8 million tonnes per annum of cargoes to Bangladesh for 15 years starting in 2026.
The SPA signing at QatarEnergy’s Headquarters in Doha was attended by Saad Sherida Al-Kaabi, the President and Chief Executive of QatarEnergy, and Nasrul Hamid, the state minister for Power, Energy and Mineral Resources in Bangladesh. “These supply arrangements reinforce our unwavering dedication to safeguarding the energy security of valued customers like Bangladesh and delivering the reliable energy they require for socio-economic development and prosperity,” said Al-Kaabi who is also Qatar’s Minister of State for Energy Affairs.
Bangladesh moves to re-enter spot LNG markets amid falling prices and as domestic power demand rises
The Prime Minister of Bangladesh, Sheikh Hasina Wazed, said the southwest Asian country needed urgent supplies of liquefied natural gas from the spot market even at high prices to help meet the growing demand for natural gas for power generation.
Gazprom group visits LNG importer Bangladesh to discuss energy and offshore gas projects
Russian natural gas pipeline giant Gazprom, owner of the Sakhalin LNG export plant in the Russian Far East, has sent a delegation to meet leaders in Bangladesh to discuss energy cooperation in exploration and production and LNG.
Japanese utility JERA takes stake in Bangladesh power company and owner of LNG terminal
JERA Co. Inc., the biggest Japanese utility and liquefied natural gas procurement company, said it acquired 22 percent of the outstanding shares in Summit Power International, a generating group operating in Bangladesh and owner of the Asian nation’s second floating LNG import terminal.
Bangladesh FLNG import facility starts supply to gas network and owner urges fair pricing
Bangladesh has started up its second liquefied natural gas import facility deployment offshore the port of Cox’s Bazar and the floating storage and regasification unit, the “Summit LNG”, has already sent gas into the Asian nation’s network.
Second Bangladesh floating LNG import facility arrives in Bay of Bengal and awaits start-up
Bangladesh is set to start-up its second liquefied natural gas import facility with the deployment offshore the port of Cox’s Bazar of the floating storage and regasification vessel “Summit LNG”.
The second FSRU for the Asian nation is part of a project involving Singapore-based Summit Power International and Excelerate Energy of the US, owner and operator of the FSRU and also the provider of Bangladesh's first floating import facility.
The “Summit LNG” vessel is capable of regasifying 500 million cubic feet a day and has been charted from Excelerate for a period of 15 years.
The ship loaded its commissioning cargo at Ras Laffan in Qatar before heading for Bangladesh.
The Summit Group said the FSRU can handle around 3.75 million tonnes per annum of LNG and doubles the country’s import capacity after a first FSRU, the “Excellence”, was commissioned at Moheshkhali Island in August 2018 as the first Bangladesh import facility.
The Moheshkhali Island venture was co-developed by national energy company PetroBangla, the International Finance Corporation, part of World Bank Group, and Excelerate provided the FSRU.
The latest FSRU is a 138,000 cubic metres capacity vessel that was refitted at dry dock by the Nakilat-Keppel Offshore & Marine shipyard in Ras Laffan in Qatar for the Summit Group, whose Chairman is Muhammed Aziz Khan.
Summit operates 20 power plants in Bangladesh with an installed capacity of 1,941 megawatts comprising 20 percent of Bangladesh's total capacity in the private sector.
The power company is also developing the 583 MW gas-fired plant in the Bangladesh town of Meghnaghat, located about 20km south of the capital Dhaka and which will be the nation’s largest when it comes on line in March 2022.
“Summit is working towards achieving power and energy sufficiency in Bangladesh under the bold leadership of the government,” said Khan.
“We are pioneering the adaptation of cutting-edge technology for most economical, efficient and sustainable energy solutions to enable graduation to a developed country,” added the Summit Chairman.
Mitsubishi Corp. of Japan acquired a 25 percent stake in the Summit Group in August 2018 and is represented in the board.
General Electric of the US and Summit have also signed an accord opening the way for GE to potentially provide $50 million to Summit to be used for the development of power projects in Bangladesh.
