Petrobangla to sign LNG deal today

Petrobangla, state-run oil company of Bangladesh, is going to sign the final deal with Accelerate Energy Bangladesh Limited (EEBL) to build the country’s first liquefied natural gas (LNG) processing terminal on Today (Monday).

Under the agreement, the EEBL, a subsidiary of US-based Accelerate Energy, will build the floating storage and re-gasification unit (FSRU), popularly known as LNG terminal at Maheshkhali of Chittagong.

The EEBL will build the terminal within 16 months according to a term sheet conduct and the import of LNG may start in early 2018, said a source of Ministry of Power, Energy and Mineral Resources.

Earlier, in 2010, the government has taken a initiative to build a LNG processing terminal and the Cabinet Committee on Public Purchase approved the proposal for setting up the LNG terminal to process the imported LNG into natural gas on June 22 in this year.