The government of Bangladesh has given its final approval for the development of the country’s third LNG terminal, which will have a regasification capacity of 600 mcf/d (6.2 bcm/year) and will be located in Moheshkhali, district of Cox's Bazar. The approval was obtained by Summit Summit Oil & Shipping, a subsidiary of the Bangladesh company Summit Group, which already operates a 500 mcf/d (5.1 bcm/year) LNG terminal in Cox’s Bazar. The other LNG terminal (also 500 mcf/d) is operated by the US company Excelerate Energy.
Bangladesh has many other LNG terminal projects, including some proposed by Petrobangla, which would be built in Payra (south-western Bangladesh, 5.2-10.3 bcm/year) and Matarbari (south-eastern Bangladesh). A timeframe for those proposed projects has not yet been communicated but the new terminals are expected to help the country meet a rapidly growing gas demand, which is projected to surge by more than 60% by 2030.