DHAKA, Bangladesh, June 26, 2014 (GLOBE NEWSWIRE) -- Excelerate Energy and Petrobangla have reached agreement on terms for the development and operation of Bangladesh's first LNG import terminal. The agreement includes the provision of one of Excelerate's existing floating storage and regasification units (FSRU) under a 15-year long-term charter, as well as the design and construction of the facility. Located offshore near Moheshkhali Island in the Bay of Bengal, the terminal will provide much needed natural gas to the southeastern Chittagong region of Bangladesh.
The facility will include the installation of a subsea buoy system anchored offshore. The buoy system will act as both the mooring mechanism for the FSRU and as the conduit through which natural gas is delivered to shore through a subsea pipeline. The FSRU will have 138,000 cubic meters of LNG storage capacity and a base regasification capacity of 500 million standard cubic feet per day.
About Excelerate Energy®
Excelerate Energy L.P. is the pioneer and market leader in innovative floating LNG solutions. We provide integrated services along the entire LNG value chain with the objective of delivering rapid-to-market and reliable LNG solutions to our customers. Excelerate offers a full range of floating regasification services, from FSRU to infrastructure development; we serve the upstream market through the development of floating liquefaction (FLNG) solutions; and our established trading and chartering team is active in the global market and provides access to LNG supply and market to both our downstream and upstream customers. Headquartered in The Woodlands, Texas, Excelerate has a presence in Buenos Aires, London, Rio de Janeiro, and Singapore. For more information, please visit www.excelerateenergy.com.