Excelerate says Bangladesh FSRU to resume ops by end of July

US-based Excelerate Energy expects its FSRU Summit LNG, which serves Bangladesh’s second LNG terminal located offshore Moheshkhali Island in the Bay of Bengal, to complete repairs and resume operations by the end of July.

“Due to the extent of the damage sustained by the FSRU Summit LNG, it was deemed necessary for the vessel to sail under her own power to a shipyard facility for repairs,” Excelerate told LNG Prime in an emailed statement late on Thursday.

“On June 12, 2024, the vessel safely disconnected from the terminal to begin her journey to a shipyard facility in Southeast Asia,” the firm said.

“Excelerate is committed to making any necessary repairs and returning to service in Bangladesh by the end of July 2024,” Excelerate added.

The US FSRU player did not provide further information.

The 138,000-cbm FSRU was damaged on May 27 during cyclone Remal.

Exclerate previously said that the unit had sustained damage from a floating object which made several points of contact with the vessel’s starboard side.

Several reports said, citing a statement by Summit LNG, that “the impact sheared the vessel’s outer hull, approximately one meter below the waterline, leading to water ingress into the ballast tanks.”

LNG Prime previously invited Bangladesh’s Summit to comment on the matter, but we did not receive a response.

Two Excelerate FSRUs in Bangladesh

In August 2017, Summit entered into a 15-year charter agreement with Excelerate for the FSRU, and the unit began operations at the facility in April 2019.

The terminal has a sendout capacity of 500 million standard cubic feet per day (MMscf/d) of natural gas, and the FSRU is connected to shore by a six kilometers long subsea pipeline.

Excelerate’s FSRU also serves Bangladesh’s first LNG import facility, Moheshkhali Floating LNG or MLNG, operated by Petrobangla.

Launched in 2018, the 138,000-cbm FSRU Excellence completed its 100th STS transfer offshore Bangladesh in 2021.

Bangladesh LNG imports

GIIGNL data shows that Bangladesh imported 5.2 million tons of LNG in 2023, up by 17.3 percent compared to the year before, mostly due to lower spot prices.

Qatar is the largest LNG supplier to Bangladesh.

In January this year, QatarEnergy signed a long-term contract with Excelerate to supply Bangladesh with LNG.

Under the SPA, Excelerate will buy up to one mtpa of LNG from QatarEnergy to be delivered to FSRUs in Bangladesh for 15 years starting in January 2026.

Prior to this SPA, QatarEnergy entered last year into a 15-year deal to supply LNG to Bangladesh’s state-owned Petrobangla.

Under the deal, QatarEnergy’s LNG trading arm will deliver about 1.8 mtpa of LNG to Petrobangla, starting in 2026.

Petrobangla already has a 15-year deal with QatarEnergy’s unit Qatargas for 2.5 million tons of LNG and this deal started in 2018.

Besides this contract, QatarEnergy entered into a deal with Vitol in 2021 to supply 1.25 mtpa of LNG to the latter’s final customers in Bangladesh.

Last year, Petrobangla also signed a long-term deal to buy LNG from Oman’s state-owned firm OQ Trading.

Under this SPA, OQ Trading will supply 0.25-1.5 mtpa of LNG to Bangladesh over 10 years, starting in 2026.

Most Popular

Atlantic LNG shipping rates, European prices down

Atlantic LNG freight shipping rates and European prices decreased this week compared to the week before.

Glenfarne becomes majority owner of Alaska LNG

US energy firm Glenfarne has signed definitive agreements with state-owned Alaska Gasline Development Corporation to become the majority owner of the giant Alaska LNG export project.

Petronas to supply LNG to PetroVietnam Gas

Malaysian energy giant Petronas will supply liquefied natural gas (LNG) to PetroVietnam Gas, a unit of state-owned PetroVietnam, next month. The two firms will also look into the possibility of signing long-term LNG contracts.

More News Like This

Excelerate buys NFE’s Jamaica business for $1.05 billion

US FSRU player Excelerate Energy has entered into a definitive agreement with compatriot LNG player New Fortress Energy to acquire NFE’s business in Jamaica for $1.055 billion in cash.

Argentina’s Enarsa gets offers for LNG cargo tender

Argentina's state-owned LNG importer Energia Argentina (Enarsa) has received seven offers for its first LNG cargo tender in 2025.

Bangladesh’s RPGCL launches new spot LNG cargo tender

Bangladesh's Rupantarita Prakritik Gas (RPGCL), a unit of state-owned Petrobangla, is seeking two spot liquefied natural gas (LNG) cargoes for delivery in April.

Excelerate, PetroVietnam Gas to collaborate on US LNG supplies

According to a statement by Excelerate on Friday, the two firms have signed a memorandum of understanding to collaborate...