PSA Marine awarded 15-year contract to provide vessel support services at Summit LNG FSRU terminal, Bangladesh

Summit Power International Pte. Ltd. (SPI), Singapore, today announced that its subsidiary, Summit LNG Terminal Co. (Pvt) Limited (Summit LNG) has awarded a 15-year contract to PSA Marine Bangladesh Pte. Ltd. (“PSA Marine Bangladesh”), a subsidiary of PSA Marine (Pte) Ltd (PSA Marine).

Under the contract, PSA Marine Bangladesh will provide berthing, mooring, pilot and personnel transfer services to LNG ships calling at Summit LNG FSRU terminal, with its three escort tugboats, one fast crew boat and one offshore supply vessel.

The award of this contract marks a significant milestone for PSA Marine and commencement of a long-term partnership with SPI. Together with Summit LNG, PSA Marine Bangladesh targets to commence operations in early 2019.

Mr. Peter Chew, Managing Director of PSA Marine said, “We have an excellent track record of providing towage services to LNG terminals, be it at the Singapore LNG terminal in Jurong Island or the Oman LNG terminal at Sur. We are honored to work alongside Summit Power International and this win is a vote of confidence for our standing and capability as the preferred marine services partner for LNG terminals.”

Mr. Muhammed Aziz Khan, Chairman of SPI said, “Summit is the largest physical infrastructure company in Bangladesh generating 1,500 MW of electricity, 1,000 MW under construction and 2,400 MW under development. Bangladesh requires 15 million tons of LNG and Summit will provide infrastructure for that. For our first project of LNG, we are pleased to bring on board PSA Marine, a pre-eminent marine services provider, to support our venture to develop region’s fast growing LNG market. Summit Power has an excellent track record in working with world leading corporations to deliver the high standard projects and PSA Marine’s best-in-class services are a natural fit with our operational philosophy.”

In 2017, Summit LNG has received a concession from Petrobangla, Bangladesh’s state-owned company, to develop a floating LNG terminal facility comprising of a storage and regasification unit connected to shore by a six-kilometre subsea pipeline, on a build, own, operate, transfer basis in Moheskhali, Cox’s Bazar to supply approximately 500 million cubic feet per day of natural gas to the national grid. This project is part of SPI’s USD 1 billion investment programme to deliver 1,000 MW of power and gas in Bangladesh.

Source: PSA Marine