King & Spalding advises Summit on Bangladesh LNG terminal
International law firm King & Spalding has been hired to act for Summit Corporation on all aspects of the new FSRU-based LNG import terminal in Bangladesh.
Summit will sign a 15-year time charter agreement with Excelerate Energy 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 9-kilometer subsea pipeline off Moheshkhali.
The FSRU time charter agreement 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, King & Spalding said.