Govt to build 2nd LNG terminal in Moheshkhali

Special Correspondent: The cabinet approved the proposal to deploy the second LNG terminal of US-based Excelerate Energy in Moheshkhali, as the government seeks to speed up the import of gas to meet growing demand.

The approval was given at a meeting held with Finance Minister AMA Muhith in the chair on Wednesday.

After the meeting cabinet division additional secretary Mostafizur Rahman said Summit Corporation will build its first floating Liquefied Natural Gas (LNG) terminal on Moheshkhali Island in Cox's Bazar.

The LNG terminal company will supply 500 million cubic feet of gas per day, for which the government will pay a total of $1.56 billion in a year.

As per conditions, Excelerate Energy has set up a separate company -- Excelerate Energy Bangladesh Ltd -- that will supply 500 MMCFD of gas for 15 years.

risingbd/Dhaka/Jan 18, 2017/Hasnath/Nasim