Excelerate nets FSRU job

Houston-based Excelerate Energy has secured an agreement to supply one of its LNG regasification vessels to Bangladesh state energy company Petrobangla for a long-planned import project.

Excelerate, which has been working on the project since 2010 in partnership with trader Astra Oil, said the two companies have “reached agreement on terms” for the development and operation of what will be Bangladesh’s first LNG import terminal.

Under the deal Excelerate will supply one of its floating storage and regasification units (FSRUs) under a 15-year long-term charter. In addition the company will design and construct the facility.

The new terminal, which will be located offshore near Moheshkhali Island in the Bay of Bengal, will include the installation of a subsea buoy system anchored offshore that will act as both the mooring mechanism for the FSRU and through which natural gas will be delivered to a subsea pipeline.

Excelerate said 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.   

Gas will be piped ashore and will supply natural gas to the southeastern Chittagong region of Bangladesh.