SINGAPORE - August 8, 2017 – King & Spalding is acting for Summit Corporation, part of the Summit Group, on all aspects of the new floating LNG import terminal in Bangladesh, including a floating storage and regasification unit (FSRU) time charter party agreement (TCP), pipeline construction and EPC agreement.
The FSRU TCP will see Summit, via the Summit LNG Terminal Company (SLTC), enter into a 15-year time charter agreement with Excelerate Energy LP for a floating storage and regasification unit (FSRU) to be deployed at Moheshkhali island in the Bay of Bengal. The FSRU is expected to supply around 500,000 Mcf/d of gas from imported LNG, which will be supplied to Bangladesh via a 9km subsea pipeline off Moheshkhali.
The FSRU TCP follows on from a terminal use agreement and an implementation agreement for the project, which were both agreed with the Government of Bangladesh and PetroBangla earlier in 2017.
The King & Spalding team includes projects and energy partner Richard Nelson and senior associate Nick Kouvaritakis, both based in Singapore.