Jera inks Bangladesh LNG pact with Summit Power

Japan’s LNG trading giant and power firm, Jera, has signed a memorandum of understanding with a unit of Bangladesh’s Summit Power to collaborate on the development of LNG supply, storage, and regasification.

Jera agreed to buy 22 percent of Summit Power’s outstanding shares in October 2019, and the two firms also signed a memorandum of understanding in April last year to collaborate on the development of a decarbonization roadmap for Summit Power.

According to Jera, it signed the new deal with Summit Corporation on Thursday in Tokyo.

Moreover, Jera noted that in line with increasing gas demand and declining in domestic gas production, Bangladesh needs the development of stable LNG supply.

The memorandum indicates that Jera and Summit will collaborate in LNG storage and regasification, as well as the long-term supply of LNG to Bangladesh, it said.

Summit Power is the largest independent power producer in Bangladesh and operates under the umbrella of Bangladesh’s leading infrastructure conglomerate Summit Group.

The firm operates the FSRU-based LNG import terminal located offshore Moheshkhali Island in the Bay of Bengal with a daily regasification capacity of 500 million cubic feet.

Bangladesh currently imports LNG via Bangladesh’s first LNG import facility, Moheshkhali Floating LNG or MLNG, operated by Petrobangla, and via Summit Group’s FSRU-based terminal.

Both of these facilities feature Excelerate Energy’s FSRUs.

Most Popular

Cheniere plans to boost LNG export capacity to 100 mtpa

US LNG exporting giant Cheniere plans to boost its export capacity to about 100 mtpa via new expansion projects at its Sabine Pass and Corpus Christi LNG terminals.

Coastal Bend LNG plans large Texas export plant

Coastal Bend LNG said it had initiated development of a 22.5 million ton per annum (mtpa) natural gas liquefaction and export facility on the Texas Gulf Coast.

Golden Pass LNG contractors agree terms for second and third train

Japan's Chiyoda and US-based McDermott have signed a binding term sheet with Golden Pass LNG, a joint venture owned by QatarEnergy and ExxonMobil, to complete the construction of the second and third liquefaction units at the giant LNG export plant in Texas.

More News Like This

Woodside, Jera ink non-binding winter LNG supply deal

A unit of Australian LNG player Woodside and Japan's Jera have entered into a non-binding heads of agreement for the sale and purchase of LNG cargoes during Japan’s peak winter period.

Jera plans to build new LNG units at Sodegaura power plant

Japan’s Jera plans to build new LNG-fueled units at its Sodegaura power plant in the Chiba prefecture, as part of its plans to replace aging facilities.

Petronas, Jera strenghten LNG ties

Malaysia's Petronas and Japan's Jera have agreed to expand their collaboration across the gas value chain, including providing LNG supply for Japan, with the signing of a memorandum of understanding.

Japan’s Jera seals US LNG supply deals

Japan's power firm and LNG trader Jera has signed 20-year agreements to buy up to 5.5 million tonnes per year of LNG from the United States. The deals include an SPA with Commonwealth LNG and the previously announced SPA with NextDecade, as well as heads of agreements with Sempra Infrastructure and Cheniere.