Summit, Commonwealth LNG sign deal to supply fuel to Bangladesh
8/2/2021
Summit Oil and Shipping signed an MoU with Commonwealth LNG for LNG supply to Asia, including Bangladesh.
The deal includes 1 MMtpy of LNG offtake from Commonwealth's 8.4 MMtpy facility currently under development in Cameron, Louisiana to Summit Oil, a unit of Bangladesh-based Summit Group.
Commonwealth can deliver U.S.-sourced LNG, providing diversification of supply for Bangladesh and the pricing stability associated with Henry Hub, said Farid Khan, vice chairman of Summit Group.
Summit Oil and Shipping Co. Ltd is the largest private sector importer and supplier of fuel oil to Bangladesh, the company said.
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