Mainly, the LNG terminal is owned by Summit LNG Terminal and has a send-out capacity of 500 million standard cubic feet per day (MMscf/d) of natural gas.
Moreover, during August 2017, Summit LNG joined a 15-year agreement with Excelerate for the FSRU.
While providing the vessel, Excelerate acted as the owner’s Engineer for Summit in regard to the fixed infrastructure components of the terminal, which included a subsea plug, mooring system, and subsea pipeline.
As Steven Kobos, Excelerate’s Managing Director commented, the completion of the Summit LNG Terminal reflects the positive outlook Bangladesh has in its energy supply, as it aspires to help boost local industry while also benefit the citizens.
Concluding, Bangladesh launched its first LNG Terminal in August 2018; the Moheshkhali Floating LNG (MLNG) terminal has up to now imported 27 cargoes of LNG and also shipped in more than 70 million MMBtus of natural gas into the Bangladeshi market, representing an increase in gas supply of over 10% during this period.