6th May 2019
EP Report

 

The US energy giant Excelerate sees Bangladesh as an LNG (liquefied natural gas) market poised for exponential growth to meet the needs of its fast-growing economy.

 

Excelerate delivered the first floating LNG import facility at Moheshkhali Island in August 2018, some two years after deals were done.

 

"The maiden project came on line and reached its full capacity far quicker than many other countries globally," Excelerate Energy's Vice-President (business development) Ramon Wangdi told a local newspaper recently.

 

Excelerate's FSRU (floating, storage and regasification unit), Excellence, is Bangladesh's first LNG import plant that started commercial operations on August 18.

 

Since the introduction of LNG into its energy system, the country has gradually ramped up its LNG imports with the FSRU reaching its full capacity.

 

Around 500 million cubic feet per day (mmcfd) of gas was delivered in late January 2019 after more than five months into its formal launch, according to Excelerate.

 

Other regional markets, such as Pakistan that began operations in 2015, did not reach full utilisation until over a year into their operations. 


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