Payra FSRU

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Payra FSRU is a proposed LNG import terminal in Bangladesh.

Location

Table 1: Location details

Name	Location	Coordinates (WGS 84)
Payra FSRU	Payra Sea Port, Kalapara, Patuakhali, Bangladesh	21.988808, 90.280506 (approximate)

The map below shows the approximate location of the terminal:

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Project Details

Table 2: Infrastructure details

mtpa = million tonnes per year

Name	Facility type	Status	Capacity	Total terminal capacity	Offshore	Associated infrastructure
Payra FSRU	import	proposed	3.75 mtpa	3.75 mtpa	True	–

Table 3: Cost

Name	Facility type	Cost	Total known terminal costs
Payra FSRU	import	–	–

Financing

No financing data available.

Table 4: Project timeline

FID = Final Investment Decision, used by some developers to indicate a project will move forward

Name	Facility type	Status	Proposal year	FID year	Construction year	Operating year	Inactive year
Payra FSRU	import	proposed	2017	–	–	2028	–

Ownership

Table 5: Ownership

Name	Facility type	Status	Owners	Parent companies	Operator
Payra FSRU	import	proposed	Excelerate Energy LP [100%]	Excelerate Energy Inc [24.3%]; Excelerate Energy Holdings LLC	Excelerate Energy

Background

In 2017, State-owned Rupantarita Prakritik Gas Company Limited (RPGCL) 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.

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.

In November 2024, Gas Outlook reported that Bangladesh's interim government had scrapped deals with several prospective LNG terminal developers in a move to overturn deals signed under a special law by Bangladesh's prior authoritarian Awami Leauge government. Among the projects targeted was Payra FSRU, as the government scrapped a term-sheet agreement with Excelerate Energy. Gas Outlook wrote that "Petrobangla would need to extend the tenure of the term-sheet agreement and ink a [Terminal Use Agreement] with Excelerate Energy to ensure its effectiveness," according to Petrobangla's chairman.

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Additional data

To access additional data, including an interactive map of LNG terminals, a downloadable dataset, and summary data, please visit the Global Gas Infrastructure Tracker on the Global Energy Monitor website.