Photo : Messenger
The Floating Storage and Regasification Unit (FSRU) owned by Summit, with a capacity to handle 600 million cubic feet per day (mmcfd), has not become operational even after two months, creating a shortage of gas supply to power plants. Household consumers are also facing a gas crisis while cooking.
A Summit official informed that the floating LNG-regasification unit has returned to Moheshkhali after undergoing maintenance for two and a half months. Earlier on May 27, Summit stopped operations.
State Minister for Power and Energy Nasrul Hamid told The Daily Messenger, “Summit will resume operations within 10 days. I hope the gas crisis will ease soon. Summit is our long-time partner. Due to outstanding issues, they would not stop operations.”
Mohsena Hassan, the assistant general manager of Public Relations at Summit Power International, told The Daily Messenger, “We are ready to operate. The FSRU can begin regasification at any time.”
Although the FSRU was supposed to begin operations on April 3, it still has not been commissioned, resulting in 600 mmcfd of gas not being supplied to the national grid.
As per approval, Summit Oil and Shipping Co Ltd, a subsidiary of the Summit Group, will sign a 15-year Terminal Use Agreement (TUA) and Implementation Agreement (IA) to set up an LNG terminal with a capacity of handling 600 mmcfd to provide LNG regasification service at a fee of $300,000, equivalent to Tk 3.31 crore.
This is the third LNG terminal in the country, following two existing terminals, including one set up by Excelerate Energy of the United States at Moheshkhali in Cox's Bazar with a 500 mmcfd capacity.
The government approved the FSRU on December 6, 2023, with a 15-year agreement and a capacity of 600 mmcfd. The FSRU was under maintenance in Singapore and has already arrived at its designated location but is yet to be commissioned, despite being scheduled to start operations by April 3.
According to Petrobangla, the current demand for gas is 3,000 mmcfd, but Petrobangla can supply only 2,300 mmcfd, with the rest coming from imported sources.
Senior Secretary of the Power Division, Md. Habibur Rahman, told The Daily Messenger, “Not only LNG, we have to increase the supply of furnace oil and diesel to increase generation.”
As a result, the country is experiencing a significant shortfall of about 1,000 mmcfd of gas to meet the demand of 4,000 mmcfd.
Recently, Petrobangla signed two new deals with Qatar and Oman to receive more LNG supply from 2026, in addition to two existing deals with these nations. It has also signed a fresh 15-year agreement with Excelerate Energy to import additional LNG from 2026.
Messenger/Nishat
