Mitsubishi Corporation is to purchase a 25% interest in Summit LNG Terminal Co (Pvt) Limited (SLNG) and to develop an LNG receiving terminal that uses a Floating Storage and Regasification Unit (FSRU) in Bangladesh.
With the acquisition, 75% of SLNG will be held by Summit Corporation Limited (Summit) and 25% by Mitsubishi.
Under the project, SLNG will install an FSRU 6km off the coast of the island of Moheshkali in the Cox Bazar District of Chittagong Division in Bangladesh, where it will receive and regasify LNG procured by Petrobangla, the national oil and energy company. Construction of the terminal commenced at the end of 2017 and commercial operations are expected to start in March 2019. The planned LNG import volume is approximately 3.5 Mtpa.
For more information, visit: www.mitsubishicorp.com
20th August 2018