Novatek Middle East has proposed a $950 million gravity-based structure (GBS) LNG terminal in the Bay of Bengal as an alternative to Bangladesh’s planned land-based facility at Matarbari.
The company presented the preliminary concept to Petrobangla, proposing a fixed offshore terminal with 7.5 million tonnes per annum (MTPA) of regasification capacity.
Novatek estimates the facility would cost about 21% less than a conventional 7.5-MTPA land-based terminal, estimated at $1.2 billion. The figures, however, have not been independently verified.
The proposed GBS could be built in 30–36 months and have a design life of 60–80 years. Possible sites include deep-sea areas near Maheshkhali and Matarbari.
The facility would send regasified LNG to the national grid through a subsea pipeline.
The proposal is still at an early stage, and Novatek has not submitted a formal proposal.
