FSRU: Bangladesh Terminal Makes First STS Transfer

Bangladesh's second liquefied natural gas (LNG) floating facility is set to receive its first ship-to-ship transfer of gas from an Algerian cargo, a spokeswoman from operator Summit LNG Terminal said on Thursday.

'Summit LNG', the floating storage and regasification unit (FSRU), will receive 159,000 cubic meters of LNG from Oman Trading International, with the transfer expected to be completed by Thursday night.

The LNG tanker, Creole Spirit, loaded gas from Bethioua, Algeria, she said, adding that a second LNG tanker is expected to arrive on June 3.

The FSRU is 75% owned by Summit Corp, a unit of Summit Power International, while its remaining stake is held by Japan's Mitsubishi Corp.

The FSRU started to feed gas to Bangladesh's national grid in late April after picking up its commissioning cargo from Qatar.

Summit Power International, which owns power generation assets in Bangladesh and is owned by Bangladeshi conglomerate Summit Group, has chartered the vessel, which is able to regasify 500 million cubic feet of LNG a day from U.S.-based Excelerate Energy for 15 years.

(Reuters reporting by Jessica Jaganathan in Singapore and Ruma Paul in Dhaka; Editing by James Emmanuel)