Summit to construct third floating LNG terminal

Summit Group will construct the country's third Floating Storage and Regasification Unit (FSRU) in Moheshkhali of Cox's Bazar in order to regasify more imported Liquefied Natural Gas (LNG).

It would be the second floating LNG terminal, or FSRU, of Summit Oil and Shipping Co. Ltd.

The cabinet committee on economic affairs has given its approval to the request from the Ministry of Power, Energy, and Mineral Resources.

Floating Storage and Regasification Units (FSRUs), multipurpose vessels, combine the onboard LNG storage and integrated regasification systems of a ship or barge.

The process used to convert LNG into gas is called regasification. The gas is subsequently supplied to the national grid.