look news india
Dhaka, 08 October (HS). The interim government of Bangladesh has canceled the contract with Summit Group on the second floating LNG terminal (FSRU). The contract has been canceled on the instructions of the Ministry of Power, Energy and Mineral Resources.
Petrobangla Chairman Janendra Nath Sarkar confirmed this on Monday, Dhaka Tribune reported. In this regard, Summit Group said that it has received notice of cancellation of the contract. “This is inappropriate and will be appealed for review,” the group said. The Group has a good track record of responsibly implementing long-term infrastructure projects in Bangladesh.”
It is noteworthy that on March 30, Petrobangla and Summit Group had signed a contract for the construction of the third FSRU in Bangladesh. Apart from the terminal construction, the two had also agreed to supply 1.5 million tonnes of liquefied natural gas (LNG) annually by the end of 2026.