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Tender for Bangladeshi LNG terminal draws ten applicants

LNG Industry,

In response to Petrobangla putting the LNG terminal contract out to tender they have received applications from Gas De France, BW Gas Norway, Golar LNG Energy Management of Singapore, Vitol Singapore, Samsung South Korea, joint venture of Astra Oil and Excelerate Teekay Shipping Canada, Hiranandi Pvt Co of India with Hoegth LNG, Norway, Ros Roca Group of Spain and local Unination Energy Ltd.

Petrobangla will now review the technical and financial capability of each company to submit a proposal for the terminal at Maheshkhali. The LNG terminal is badly needed to increase the supply of gas into the country as in recent years demand has continued to outstrip the local supply. Currently the country’s gas supply shortfall averages 400 – 500 million ft3/d of gas, but the shortfall is continually growing.

It is anticipated that the imported LNG will cost US$ 7 – US$ 8 per thousand m3 (mcf) as opposed to the local gas, which costs US$ 1.2/mcf. However the government still thinks the terminal is worth the cost if it guarantees energy security.

The government will also need to construct a 30 in. diameter, 90 km long gas pipeline to connect the terminal into the nations gas grid. An MoU has also already been signed with Qatar to provide up to 500 million ft3/d of gas.

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