State-owned Petrobangla has signed an initial agreement with local private company Summit Group for a $500 million liquefied natural gas floating storage and regasification unit at Moheshkhali Island near Cox’s Bazar, Bangladesh.
Summit LNG will jointly implement this import project with industry giant GE as an equity investor.
Summit will supply 500 million cubic feet per day of gas from this import project to the government that will pay 45 US cents per thousand cubic feet, according to local sources.
The
