The interim government has opted not to proceed with an agreement with US-based Excelerate Energy for a new regasification plant for liquefied natural gas (LNG), following the cancellation of a similar deal with Summit Group for a third floating storage and regasification unit (FSRU). Petrobangla officials confirmed that a memorandum of understanding (MoU) with Excelerate, signed in November, has been revoked as the government reviewed previous agreements made without a tender process. While both current FSRUs are set to be operational by late 2026, Petrobangla plans to invite tenders for any new FSRUs, allowing Excelerate to participate. Additionally, Excelerate’s recent bid to supply LNG was canceled due to insufficient bids, with plans to re-invite suppliers in the future.
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