Reuters reports that the remaining 75% stake will continue to be held by Summit Corp. The project calls for a floating storage and regasification unit (FSRU) to be implemented nearby Moheshkali. This facility will receive and regasify LNG that has been procured by Petrobangla.
Terminal construction has already commenced, with Reuters reporting that commercial operation is expected to commence in March next year. Mitsubishi reportedly said that planned LNG import volumes are approximately 3.5 million tpy.
Although the investment cost has not been disclosed, an industry source close to the matter said that the company is thought to be investing approximately US$20 million – US$25 million for the stake.
Read the article online at: https://www.lngindustry.com/floating-lng/17082018/mitsubishi-acquires-25-stake-in-bangladesh-lng-terminal/
You might also like
A Seapath and Pilot LNG joint venture will develop, construct, and operate a terminal in the Galveston Bay area supporting LNG-powered vessels.