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Summit, GE, Excelerate in $1 bln LNG-to-power pact
Image courtesy of Excelerate Energy
Summit Power International joined forces with General Electric and Excelerate Energy to develop a $1 billion gas-to-power generation and offshore LNG import terminal in Menghaghat, Bangladesh.
The Meghnaghat II natural gas based combined cycle power plant would increase Sumit total installed generating capacity of over 3,000MW.
Under the memorandum of understanding signed by Summit with GE, through GE Capital’s Energy Financial Services, GE would potentially provide $50 million of equity to Summit, to be used for the development of power projects in Bangladesh.
In addition, GE Gas Power Systems will have rights to supply equipment for the power projects based on gas turbine technology and developed in the next 36 months by Summit.
In order to provide feedgas for the projects, Summit LNG Terminal Company signed a 15-year FSRU charter deal with Excelerate Energy.
IFC, a member of the World Bank Group, has been engaged as the lead arranger for financing to develop the Meghnaghat II power plant.
Consortium wins $100 mln job for Summit LNG
Image courtesy of Summit LNG
Summit LNG Terminal, a unit of Summit Power International, signed a $100 million turnkey deal with a consortium comprising Geocean SAS and MacGregor for its floating LNG terminal at Moheskhali, Bangladesh.
Under the agreement, the consortium will provide the design, engineering, procurement, fabrication, installation and testing of the fixed infrastructure (FI) for its floating LNG storage and regasification terminal in Cox’s Bazar, Summit said in a statement on Tuesday.
The fixed infrastructure will consist, among others, of disconnectable turret mooring (DTM) plug for FSRU vessel system with anchors (suction piles), flexible riser with floatation and tether system, control and hydraulic umbilical, PLEM, stern mooring system (SMS) of FSRU vessel offshore pipelines and landfall works.
In August 2017, Summit LNG Terminal had signed a 15-year time charter party (TCP) agreement with Excelerate Energy securing the FSRU vessel.
The FSRU vessel is expected to supply around 500,000 Mcf/d of gas from imported LNG, which will be supplied to Bangladesh via a 9-kilometer subsea pipeline off Moheshkhali.
PSA Marine wins 15-year Moheskhali FSRU service deal
Image courtesy of SPI
Summit Power International said its unit Summit LNG Terminal has awarded a 15-year deal to PSA Marine Bangladesh, to support LNG carriers calling at the Summit LNG FSRU terminal in Moheskhali, Bangladesh.
PSA Marine Bangladesh, a unit of PSA Marine, will provide berthing, mooring, pilot and personnel transfer services to LNG ships calling at Summit LNG FSRU terminal, with its three escort tugboats, one fast crew boat and one offshore supply vessel.
The operations under the contract are expected to start in early 2019, SPI said in a statement.
In 2017, Summit LNG has received a concession from Petrobangla, Bangladesh’s state-owned company, to develop a floating LNG terminal facility comprising of a storage and regasification unit connected to shore by a six-kilometre subsea pipeline, on a build, own, operate, transfer basis in Moheskhali, Cox’s Bazar to supply approximately 500 million cubic feet per day of natural gas to the national grid.
The floating storage and regasification unit (FSRU) will be provided by Excelerate Energy on a 15-year charter agreement.
This project is part of SPI’s $1 billion investment programme to deliver 1,000 MW of power and gas in Bangladesh.
Speaking of the project, SPI chairman, Muhammed Aziz Khan said that the company will provide infrastructure to cater for Bangladesh’s demand for 15 million tons of LNG per year.
MacGregor wins FSRU terminal contract in Bangladesh
Flintstone mooring connector (Image courtesy of MacGregor)
MacGregor, part of Cargotec, has signed an order for the fabrication, engineering and project management of a complete subsea mooring and riser system with the Bangladesh-based company, Summit LNG Terminal.
The MacGregor system will serve Summit’s floating storage and regasification unit (FSRU), with the delivery of MacGregor’s services will be completed in the fourth quarter 2018.
This order is part of a project to support Summit LNG Terminal’s development of Bangladesh’s power-supply infrastructure, MacGregor said on Wednesday.
The MacGregor equipment for the FSRU includes mooring connectors, as well as project management for the fabrication, procurement and project management of the complete subsea mooring and riser system. The FSRU will be ready for operation on the site during the first quarter of 2019.
The floating storage and regasification unit (FSRU) will be provided by Excelerate Energy on a 15-year charter agreement and will be located at Moheskhali.
The liquefied natural gas import terminal will be a part of Summit Power International’s $1 billion gas-to-power project that would add 3,000 MW of power production capacity.
Svitzer wins Moheshkhali LNG marine services job
Illustration purposes only (Image courtesy of Svitzer)
Towage services specialist Svitzer has been chosen to provide marine support services for the Excelerate Energy FSRU in Bangladesh.
Svitzer will provide marine support services to Excelerate Energy over a 15-year period at Bangladesh’s first LNG import terminal to be located offshore Moheshkhali Island in the Bay of Bengal. The contract also includes a five-year option.
Bangladesh’s first LNG import terminal will enable Petrobangla, the state owned energy company, to increase natural gas supply in the country by up to 20 percent, sufficient to support up to 3,000 MW of power generation capacity.
The construction of the terminal will commence in the fourth quarter of 2017 and is anticipated to be in service by mid-2018.
Svitzer will serve the facility with a suite of five vessels, three Robert Allen RAstar 3200 ocean going terminal tugs under construction at the Cheoy Lee shipyard in China, one 36m crew boat under construction at the Penguin Shipyard and the MSV Svitzer Foxtrot from the existing fleet.
The company added it will establish a Bangladesh branch office to oversee the operation.
Excelerate: Bangladesh’s first LNG import terminal moves forward
Illustration purposes only (Image courtesy of Excelerate Energy)
FSRU specialist Excelerate Energy has completed studies for the implementation of the Moheshkhali floating LNG terminal in Bangladesh, following the execution of a contract with Petrobangla.
Completion of the geotechnical and geophysical activities allows the project to remain on schedule to receive its first LNG delivery in early 2018, with financial close targeted for early 2017, Excelerate Energy said in its statement on Tuesday.
These studies are significant components of the project and provide the technical path forward to final engineering and detailed design.
The studies performed confirmed the viability of the project site location, Excelerate’s FSRU and offshore mooring designs, and the overall project cost.
Moheshkhali floating LNG is a joint effort between Excelerate and the International Finance Corporation (IFC, and a member of the World Bank Group) under a joint development agreement.
Under its contract with Petrobangla, Excelerate will fully develop, design, permit, construct, install, finance, and operate the terminal.
Excelerate will provide a FSRU, an offshore subsea buoy system to anchor the FSRU, and a subsea pipeline to interconnect into the onshore natural gas system.
In addition, Excelerate will provide full operational services, including the provision of port service vessels and overall facility management. The FSRU will be capable of delivering natural gas at a base regasification rate of 500 million standard cubic feet per day, with peaking capacity substantially in excess of this.
The project is expecting to achieve financial close on the project in early 2017, which will allow for the construction and installation of the terminal to commence. IFC is mandated to provide and arrange the financing for the project.
Excelerate said it is in final negotiations for the major project contracts including EPC, O&M, and Port Services.
Bangladesh contracts Excelerate for its first LNG terminal
Image courtesy of Petrobangla
Bangladesh signed two agreements on Monday with a unit of Texas-based LNG player Excelerate Energy to build the country’s first LNG terminal at Moheshkali Island in the Bay of Bengal.
The contracts have been signed between the ministry of power, energy and mineral resources, Petrobangla and Excelerate Energy Bangladesh regarding the implementation and the use of the LNG terminal.
IFC, a member of World Bank will provide and arrange the required financing for the terminal.
Excelerate Energy will deliver Bangladesh’s first floating storage and regasification unit (FSRU) on a build-own-operate-transfer basis, Petrobangla said in a statement.
The new terminal will enable Petrobangla to procure LNG from international gas markets which will further “complement and enhance Bangladesh’s ability to reliably use the country’s domestic natural gas reserves,” Excelerate Energy said in a separate statement on July 25.
Excelerate will operate the terminal for 15 years, after which the company will transfer ownership to Petrobangla.
The FSRU will have a storage capacity of 138,000 cubic meters and a base regasification capacity of 500 million standard cubic feet per day.
The terminal will include the provision of one of Excelerate’s existing FSRUs, the installation of a subsea buoy system anchored offshore, and the employment of port service vessels during operation. The FSRU will have 138,000 cubic meters of LNG storage capacity and a base regasification capacity of 500 million standard cubic feet per day.
The terminal is expected to be in operation in 2018.
Moheshkhali LNG terminal given thumbs up
Illustration purposes only (Image courtesy of Excelerate Energy)
Bangladesh’s Purchase Cabinet recently approved the proposal by the ministry of power, energy and minimal resources to deploy an LNG terminal as well as the government’s deal with Excelerate Energy.
According to local media reports, the government has agreed to pay US$1.55 million per year for LNG purchases at the Moheshkhali terminal, being built to cover the rising demand for the fuel.
Earlier this year, the state-owned Petrobangla signed a deal with Excelerate Energy for the delivery of Bangladesh’s first FSRU near Moheshkhali Island in the Bay of Bengal on a build-own-operate-transfer basis, Petrobangla said in a statement.
The FSRU will have a storage capacity of 138,000 cubic meters and a base regasification capacity of 500 million standard cubic feet per day.
Excelerate Energy is set to operate the facility for 15 years once the construction is completed. It is expected that the construction would take 23 months once the final deal is concluded, with imports to start in 2018.
According to local reports, Mostafizur Rahman, the additional secretary said Petrobangla booked 500 cubic feet gas per day for which it will be paying $90 million per year, excluding taxes.
Tokyo Gas to study land-based LNG terminal feasibility in Bangladesh
Illustration purposes only (Image courtesy of Tokyo Gas)
Japan’s biggest city gas supplier, Tokyo Gas, in a joint venture with Nippon Koei, has been contracted to perform a feasibility and engineering study for a land-based LNG terminal in Bangladesh.
The contract was secured through the company’s unit Tokyo Gas Engineering Solution for Bangladesh’s state-owned, Bangladesh Oil, Gas & Mineral Corporation (Petrobangla).
According to Tokyo Gas, Bangladesh is looking to secure supply of natural gas to cover the rising demand, with a land-based receiving terminal providing more security compared to the FSRU-based terminals, currently being developed, that can be affected by adverse weather conditions.
Contract value has not been revealed, however, Tokyo Gas did say the work is to be performed over a one-year period starting in July 2017 and ending in July next year.
Under the contract, Tokyo Gas and Nippon Koei, Japanese construction consultancy, will examine the feasibility of constructing a land-based LNG terminal in Bangladesh, in coastal area sites Petrobangla has already shortlisted, Tokyo Gas’ statement reads.
The construction of Bangladesh’s first LNG terminal is set to start in the fourth quarter of 2017, offshore Moheshkhali Island in the Bay of Bengal.
Excelerate Energy that is co-developing Bangladesh’s first LNG import terminal with the International Finance Corporation (IFC) for state-owned Petrobangla, will provide one of its existing FSRUs with a 138,000 cubic meters storage capacity.
Image courtesy of Excelerate Energy
Summit Power International joined forces with General Electric and Excelerate Energy to develop a $1 billion gas-to-power generation and offshore LNG import terminal in Menghaghat, Bangladesh.
The Meghnaghat II natural gas based combined cycle power plant would increase Sumit total installed generating capacity of over 3,000MW.
Under the memorandum of understanding signed by Summit with GE, through GE Capital’s Energy Financial Services, GE would potentially provide $50 million of equity to Summit, to be used for the development of power projects in Bangladesh.
In addition, GE Gas Power Systems will have rights to supply equipment for the power projects based on gas turbine technology and developed in the next 36 months by Summit.
In order to provide feedgas for the projects, Summit LNG Terminal Company signed a 15-year FSRU charter deal with Excelerate Energy.
IFC, a member of the World Bank Group, has been engaged as the lead arranger for financing to develop the Meghnaghat II power plant.
Consortium wins $100 mln job for Summit LNG
Image courtesy of Summit LNG
Summit LNG Terminal, a unit of Summit Power International, signed a $100 million turnkey deal with a consortium comprising Geocean SAS and MacGregor for its floating LNG terminal at Moheskhali, Bangladesh.
Under the agreement, the consortium will provide the design, engineering, procurement, fabrication, installation and testing of the fixed infrastructure (FI) for its floating LNG storage and regasification terminal in Cox’s Bazar, Summit said in a statement on Tuesday.
The fixed infrastructure will consist, among others, of disconnectable turret mooring (DTM) plug for FSRU vessel system with anchors (suction piles), flexible riser with floatation and tether system, control and hydraulic umbilical, PLEM, stern mooring system (SMS) of FSRU vessel offshore pipelines and landfall works.
In August 2017, Summit LNG Terminal had signed a 15-year time charter party (TCP) agreement with Excelerate Energy securing the FSRU vessel.
The FSRU vessel is expected to supply around 500,000 Mcf/d of gas from imported LNG, which will be supplied to Bangladesh via a 9-kilometer subsea pipeline off Moheshkhali.
PSA Marine wins 15-year Moheskhali FSRU service deal
Image courtesy of SPI
Summit Power International said its unit Summit LNG Terminal has awarded a 15-year deal to PSA Marine Bangladesh, to support LNG carriers calling at the Summit LNG FSRU terminal in Moheskhali, Bangladesh.
PSA Marine Bangladesh, a unit of PSA Marine, will provide berthing, mooring, pilot and personnel transfer services to LNG ships calling at Summit LNG FSRU terminal, with its three escort tugboats, one fast crew boat and one offshore supply vessel.
The operations under the contract are expected to start in early 2019, SPI said in a statement.
In 2017, Summit LNG has received a concession from Petrobangla, Bangladesh’s state-owned company, to develop a floating LNG terminal facility comprising of a storage and regasification unit connected to shore by a six-kilometre subsea pipeline, on a build, own, operate, transfer basis in Moheskhali, Cox’s Bazar to supply approximately 500 million cubic feet per day of natural gas to the national grid.
The floating storage and regasification unit (FSRU) will be provided by Excelerate Energy on a 15-year charter agreement.
This project is part of SPI’s $1 billion investment programme to deliver 1,000 MW of power and gas in Bangladesh.
Speaking of the project, SPI chairman, Muhammed Aziz Khan said that the company will provide infrastructure to cater for Bangladesh’s demand for 15 million tons of LNG per year.
MacGregor wins FSRU terminal contract in Bangladesh
Flintstone mooring connector (Image courtesy of MacGregor)MacGregor, part of Cargotec, has signed an order for the fabrication, engineering and project management of a complete subsea mooring and riser system with the Bangladesh-based company, Summit LNG Terminal.
The MacGregor system will serve Summit’s floating storage and regasification unit (FSRU), with the delivery of MacGregor’s services will be completed in the fourth quarter 2018.
This order is part of a project to support Summit LNG Terminal’s development of Bangladesh’s power-supply infrastructure, MacGregor said on Wednesday.
The MacGregor equipment for the FSRU includes mooring connectors, as well as project management for the fabrication, procurement and project management of the complete subsea mooring and riser system. The FSRU will be ready for operation on the site during the first quarter of 2019.
The floating storage and regasification unit (FSRU) will be provided by Excelerate Energy on a 15-year charter agreement and will be located at Moheskhali.
The liquefied natural gas import terminal will be a part of Summit Power International’s $1 billion gas-to-power project that would add 3,000 MW of power production capacity.
Svitzer wins Moheshkhali LNG marine services job
Illustration purposes only (Image courtesy of Svitzer)Towage services specialist Svitzer has been chosen to provide marine support services for the Excelerate Energy FSRU in Bangladesh.
Svitzer will provide marine support services to Excelerate Energy over a 15-year period at Bangladesh’s first LNG import terminal to be located offshore Moheshkhali Island in the Bay of Bengal. The contract also includes a five-year option.
Bangladesh’s first LNG import terminal will enable Petrobangla, the state owned energy company, to increase natural gas supply in the country by up to 20 percent, sufficient to support up to 3,000 MW of power generation capacity.
The construction of the terminal will commence in the fourth quarter of 2017 and is anticipated to be in service by mid-2018.
Svitzer will serve the facility with a suite of five vessels, three Robert Allen RAstar 3200 ocean going terminal tugs under construction at the Cheoy Lee shipyard in China, one 36m crew boat under construction at the Penguin Shipyard and the MSV Svitzer Foxtrot from the existing fleet.
The company added it will establish a Bangladesh branch office to oversee the operation.
Excelerate: Bangladesh’s first LNG import terminal moves forward
Illustration purposes only (Image courtesy of Excelerate Energy)FSRU specialist Excelerate Energy has completed studies for the implementation of the Moheshkhali floating LNG terminal in Bangladesh, following the execution of a contract with Petrobangla.
Completion of the geotechnical and geophysical activities allows the project to remain on schedule to receive its first LNG delivery in early 2018, with financial close targeted for early 2017, Excelerate Energy said in its statement on Tuesday.
These studies are significant components of the project and provide the technical path forward to final engineering and detailed design.
The studies performed confirmed the viability of the project site location, Excelerate’s FSRU and offshore mooring designs, and the overall project cost.
Moheshkhali floating LNG is a joint effort between Excelerate and the International Finance Corporation (IFC, and a member of the World Bank Group) under a joint development agreement.
Under its contract with Petrobangla, Excelerate will fully develop, design, permit, construct, install, finance, and operate the terminal.
Excelerate will provide a FSRU, an offshore subsea buoy system to anchor the FSRU, and a subsea pipeline to interconnect into the onshore natural gas system.
In addition, Excelerate will provide full operational services, including the provision of port service vessels and overall facility management. The FSRU will be capable of delivering natural gas at a base regasification rate of 500 million standard cubic feet per day, with peaking capacity substantially in excess of this.
The project is expecting to achieve financial close on the project in early 2017, which will allow for the construction and installation of the terminal to commence. IFC is mandated to provide and arrange the financing for the project.
Excelerate said it is in final negotiations for the major project contracts including EPC, O&M, and Port Services.
Bangladesh contracts Excelerate for its first LNG terminal
Image courtesy of PetrobanglaBangladesh signed two agreements on Monday with a unit of Texas-based LNG player Excelerate Energy to build the country’s first LNG terminal at Moheshkali Island in the Bay of Bengal.
The contracts have been signed between the ministry of power, energy and mineral resources, Petrobangla and Excelerate Energy Bangladesh regarding the implementation and the use of the LNG terminal.
IFC, a member of World Bank will provide and arrange the required financing for the terminal.
Excelerate Energy will deliver Bangladesh’s first floating storage and regasification unit (FSRU) on a build-own-operate-transfer basis, Petrobangla said in a statement.
The new terminal will enable Petrobangla to procure LNG from international gas markets which will further “complement and enhance Bangladesh’s ability to reliably use the country’s domestic natural gas reserves,” Excelerate Energy said in a separate statement on July 25.
Excelerate will operate the terminal for 15 years, after which the company will transfer ownership to Petrobangla.
The FSRU will have a storage capacity of 138,000 cubic meters and a base regasification capacity of 500 million standard cubic feet per day.
The terminal will include the provision of one of Excelerate’s existing FSRUs, the installation of a subsea buoy system anchored offshore, and the employment of port service vessels during operation. The FSRU will have 138,000 cubic meters of LNG storage capacity and a base regasification capacity of 500 million standard cubic feet per day.
The terminal is expected to be in operation in 2018.
Moheshkhali LNG terminal given thumbs up
Illustration purposes only (Image courtesy of Excelerate Energy)Bangladesh’s Purchase Cabinet recently approved the proposal by the ministry of power, energy and minimal resources to deploy an LNG terminal as well as the government’s deal with Excelerate Energy.
According to local media reports, the government has agreed to pay US$1.55 million per year for LNG purchases at the Moheshkhali terminal, being built to cover the rising demand for the fuel.
Earlier this year, the state-owned Petrobangla signed a deal with Excelerate Energy for the delivery of Bangladesh’s first FSRU near Moheshkhali Island in the Bay of Bengal on a build-own-operate-transfer basis, Petrobangla said in a statement.
The FSRU will have a storage capacity of 138,000 cubic meters and a base regasification capacity of 500 million standard cubic feet per day.
Excelerate Energy is set to operate the facility for 15 years once the construction is completed. It is expected that the construction would take 23 months once the final deal is concluded, with imports to start in 2018.
According to local reports, Mostafizur Rahman, the additional secretary said Petrobangla booked 500 cubic feet gas per day for which it will be paying $90 million per year, excluding taxes.
Tokyo Gas to study land-based LNG terminal feasibility in Bangladesh
Illustration purposes only (Image courtesy of Tokyo Gas)Japan’s biggest city gas supplier, Tokyo Gas, in a joint venture with Nippon Koei, has been contracted to perform a feasibility and engineering study for a land-based LNG terminal in Bangladesh.
The contract was secured through the company’s unit Tokyo Gas Engineering Solution for Bangladesh’s state-owned, Bangladesh Oil, Gas & Mineral Corporation (Petrobangla).
According to Tokyo Gas, Bangladesh is looking to secure supply of natural gas to cover the rising demand, with a land-based receiving terminal providing more security compared to the FSRU-based terminals, currently being developed, that can be affected by adverse weather conditions.
Contract value has not been revealed, however, Tokyo Gas did say the work is to be performed over a one-year period starting in July 2017 and ending in July next year.
Under the contract, Tokyo Gas and Nippon Koei, Japanese construction consultancy, will examine the feasibility of constructing a land-based LNG terminal in Bangladesh, in coastal area sites Petrobangla has already shortlisted, Tokyo Gas’ statement reads.
The construction of Bangladesh’s first LNG terminal is set to start in the fourth quarter of 2017, offshore Moheshkhali Island in the Bay of Bengal.
Excelerate Energy that is co-developing Bangladesh’s first LNG import terminal with the International Finance Corporation (IFC) for state-owned Petrobangla, will provide one of its existing FSRUs with a 138,000 cubic meters storage capacity.
