Summit LNG starts supplying 500 mmcfd ahead of schedule
Summit LNG Terminal Co Ltd (SLNG) has successfully completed the commissioning of its Floating Storage and Regasification Unit (FSRU) on Monday night.
With the commissioning the FSRU the SLNG started supplying 500 mmcfd (million cubic feet per day) of regasified liquified natural gas to the national grid.
This significant milestone was achieved approximately one month ahead of schedule saving resources for the government and will be source of supply to many of the homes and industries waiting for much needed gas supply.
Summit LNG is the country's second LNG floating storage and regasification unit. With its 500 mmcftd the national grid the country's LNG consumption capacity rose to 1.0 Bcf/d, energy ministry officials said.
They said now the country's two FSRUs supplying around 600 mmcftd on Tuesday, with Summit's FSRU supplying around 500 mmcftd of the total.
The Summit LNG arrived at Moheshkahi Island in the Bay of Bengal on April 20 loaded with a commissioning cargo from QatarGas.
It has been positioned near the country's first FSRU, the Excelerate Energy-owned Excellence, which also has a capacity of 3.75 million mt/year.
"Investors in Bangladesh requires to believe that energy, gas and power will be available to their industries. Our Summit LNG's 500 mmcfd will help to strengthen that trust," Founder Chairman of Summit Group Muhammed Aziz Khan said in a statement on Tuesday.
Price is a matter of demand and supply in a free-market economy. However, Bangladesh Energy and Regulatory Commission (BERC) has to set fair price as only a fair price can ensure uninterrupted gas and power supply, Aziz Khan suggested
"We are grateful for the opportunity given to us by Ministry of Power, Energy and Mineral Resources (MPEMR), Petrobangla and Rupantarita Prakritik Gas Co Ltd (RPGCL),"he added.