The agreement between the government and Summit Group to build another floating liquefied natural gas (LNG) terminal was terminated on Monday (Oct 7) as the government is no longer interested in the deal, reports Bangla News.
Petrobangla cancelled the Summit deal which was signed in March during the Awami era, on orders from the power and energy ministry.
Summit won the deal without contesting with a single alternative bidder under a “special law”.
The company has since expressed its intention to challenge the cancellation, calling the move "unjustified."
Currently, Summit operates one floating LNG terminal in Moheshkhali, Cox’s Bazar, and the canceled deal would have allowed the group to build a second terminal. The country's other LNG terminal is managed by the US-based Excelerate Energy, also located in Moheshkhali.
bd-pratidin/Rafid
