Payra FSRU

This article is part of the Global Fossil Infrastructure Tracker, a project of Global Energy Monitor.

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Payra FSRU is a floating storage regasification unit (FSRU) liquefied natural gas (LNG) terminal proposed in Bangladesh.

Location

The terminal is proposed to be located in Payra Sea Port, Patuakhali, Bangladesh.

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Project details

• Operator: Excelerate Energy
• Owner: Excelerate Energy
• Parent company: Excelerate Energy
• Location: Payra Sea Port, Patuakhali, Bangladesh
• Coordinates: 21.9898, 90.2783 (estimate)
• Capacity: 3.75 mtpa; 4 mtpa
• Status: Proposed
  • first proposed in 2017
• Type: Import
• Start year: 2028
  • formerly: 2025
• Associated infrastructure:

Background

State-owned Rupantarita Prakritik Gas Company Limited (RPGCL) has invited expressions of interest (EoI) from prospective bidders to set up a liquefied natural gas (LNG) terminal at Payra maritime port area in Patuakhali.

In September 2021, Bangladesh's Energy and Mineral Resources Division under the Ministry of Power, Energy and Mineral Resources decided to conduct a feasibility study for a FSRU project at Payra, amid growing lobbying from parties interested in developing the project. US-based Excelerate Energy, Bangladesh's Summit Group, and the state-run North West Power Generation Company Ltd (NWPGCL) are among the interested firms.

As of August 2022 the terminal was considered shelved, after the Bangladeshi government paused development of the associated Payra LNG power station.

However, in March 2023, Excelerate’s CEO Steven Kobos told analysts that the company was working on advancing this project and that the project's proposed scope involved an offshore FSRU import terminal and an onshore pipeline to the city of Khulna. Kobos stated that the company has invested about $5 million in the project up to date. At the time, the company was "finalizing a term sheet with Petrobangla, evaluating financing options and was in discussions with potential partners for the project".

As part of the project, Excelerate was also negotiating a long-term LNG supply agreement with the government of Bangladesh. In November 2023, Excelerate Energy and Petrobangla have signed an LNG sale and purchase agreement under which Petrobangla agreed to purchase 0.85 to 1 mtpa of LNG from Excelerate for a term of 15 years beginning January 2026.

In June 2023, it was reported that Excelerate Energy was still in the process of developing the terminal.

In January 2024, Petrobangla's Director of Operation stated that there were three new LNG terminals to be set up in Payra, Moheshkhali and Matarbari, with the terminal at Payra expected to be commissioned by 2028.

In May 2024, it was reported that the company was still intending to develop the terminal.