SUMMIT LNG

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Bangladesh’s Second LNG Storage/Regasification Ship Is Delivered

(Reuters) – Bangladesh’s second liquefied natural gas (LNG) storage and regasification vessel has moored off the country’s coast, the ship’s operator said on the weekend, gearing up to help supply the nation with the super-chilled fuel. The floating storage and regasification unit (FSRU) ‘Summit LNG’ is moored 6 km off the island of Moheshkhali in Cox’s Bazar, Singapore-based Summit Power International said in a statement on Saturday. The FSRU is 75 percent owned by Summit Corp, a unit of Summit Power International, and the remaining by Japan’s Mitsubishi Corp. Summit Power International, which owns power generation assets in Bangladesh and is owned by Bangladeshi conglomerate Summit Group, said it had chartered the vessel, which is able to regasify 500 million cubic feet of LNG a day, from U.S.-based Excelerate Energy for 15 years.