Bangladesh Inks LNG Deal with Excelerate
Bangladesh on Thursday signed a deal with Texas-based Excelerate Energy to build its first floating terminal for importing liquefied natural gas (LNG) as it looks to ease chronic energy shortages. The floating storage and regasification unit (FSRU) terminal at Moheshkhali Island in the Bay of Bengal will be able to handle 5 million tonnes of LNG per year, Istiaq Ahmed, chairman of the state-run Bangladesh Oil, Gas and Mineral Corporation, said at a signing ceremony in Dhaka. Excelerate will develop the terminal by the first quarter of 2018 and operate it for 15 years, he said. The terminal will have berthing and mooring facilities and a daily regasification capacity of at least 500 million cubic feet. The government is in talks with Qatar to import LNG.
Cuba Drills off Florida Coast
The Washington Times recently reported that Cuba is drilling for oil 60 miles off the coast of Florida with help from China, Canada and Spain even as Congress struggles to end years of deadlock over drilling for what could be a treasure trove of offshore oil and gas. Republicans in Congress have tried repeatedly in the past decade to open up the outer continental shelf to exploration, and Florida's waters hold some of the most promising prospects for major energy finds. Their efforts have been frustrated by opposition from Florida, California and environmental-minded legislators from both parties. Florida's powerful tourism and booming real estate industries fear that oil spills could cost them business.
