The project will be the first Floating LNG Terminal In Bangladesh and relates to the construction and operation of an LNG receiving terminal located off Maheshkhali Island, Bangladesh which will be capable of performing LNG terminal services including the berthing of LNG Carriers, the unloading, receiving and storing of LNG, the regasification of and the delivery of Natural Gas to a land based delivery point through a subsea pipeline. The Project will be implemented on a build, own, operate and transfer (BOOT) basis by a special purpose vehicle subsidiary of Excelerate Energy Limited Partnership, the pioneer and world leader in innovative LNG midstream solutions, in coordination, with Bangladesh Oil Gas and Mineral Resources Corporation (Petrobangla). The Floating Storage and Regasification Unit will have LNG regasification facilities with guaranteed total daily capacity of 500 thousand MMBtus (and an excess capacity of up to 600 thousand MMBtus on an interruptible basis if required).

The project is a milestone in the effort to diversify energy sources and meet demand hikes in the energy-starved nation, and LNG is an important transition fuel that should facilitate a shift towards cleaner energy.