Moheshkhali Floating LNG Terminal

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The project comprises the development, construction, operation and transfer of an offshore marine terminal to support the transfer, storage and regasification of liquefied natural gas (LNG) for delivery to an onshore transfer location in Bangladesh. The Project’s guaranteed base load regasification rate is 500 million standard cubic feet per day (mmscfd) of natural gas. The Project consists of 1) fixed infrastructure – including a subsea plug connector and mooring system, a subsea pipeline to shore, and tie-in facilities to the onshore Moheshkhali-Anowara pipeline, 2) a floating storage and regasification unit (“FSRU”) with a nominal storage capacity of 138,000 cubic meters of LNG to be chartered to the Project, and 3) the provision of port services to support the transfer of LNG and operations. The Project is being co-developed via a special purpose vehicle, Excelerate Energy Bangladesh Limited (Project Company), by the International Finance Corporation (IFC) and Excelerate Energy Limited Partnership (Excelerate or the “Sponsor). IFC will hold 20% of the equity, with Excelerate owning the majority - 80%. Project cost amounts to $179.5 million. IFC and Excelerate have secured debt financing for the project to help expand access to clean energy in Bangladesh. The equity for the project had been tied up earlier with IFC coming in with a contribution of $10.8 million and Excelerate’s equity amount of $43.1 million. As lead arranger for the project, IFC helped arrange the debt financing package of $125.7 million for the LNG project including IFC’s loan of $32.8 million from its own account and the balance from CDC Group, KfW DEG, FMO and JICA. The funding will support the timely construction and installation of the fixed infrastructure required for the project. The construction of the terminal will commence in the fourth quarter of 2017 and is expected to be in service by mid-2018. https://disclosures.ifc.org/#/projectDetail/SII/38502 http://excelerateenergy.com/ifc-excelerate-energy-secure-financing-bangladeshs-first-lng-project/ http://excelerateenergy.com/ifc-excelerate-energy-secure-financing-bangladeshs-first-lng-project/