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Summit to set up third LNG terminal in Moheshkhali

Online Desk

Published: 11:12, 14 June 2023

Update: 11:13, 14 June 2023

Summit to set up third LNG terminal in Moheshkhali

Photo: Collected

The Cabinet Committee on Economic Affairs, in a meeting held on Wednesday (14 June), has agreed in principle with a proposal to establish the third liquefied natural gas (LNG) terminal by Summit Oil and Shipping Co Ltd.

According to additional cabinet secretary Sayed Mahbub Khan, the proposed terminal at Moheshkhali will have a regasification capacity of 500 million cubic feet of LNG per day. He mentioned that the proposal was submitted by the state-owned Petrobangla.

The approval will enable Petrobangla to initiate the process of establishing the terminal, he added. However, he was unable to provide any details regarding the completion period or the establishment cost of the terminal.

The online meeting was chaired by Finance Minister AHM Mustafa Kamal.

Currently, the country already has two LNG terminals. One was set up by Excelerate Energy of the United States in Moheskhali, Cox's Bazar, with a capacity of 500 million cubic feet per day. The other terminal, with the same capacity, was established by the Summit Group in the same area.


Islamic Merchant