Novatek Proposes Cheaper Offshore LNG Terminal for Bangladesh
Novatek Middle East has proposed a $950 million gravity-based structure (GBS) as an alternative to a conventional land-based LNG terminal in Bangladesh. The GBS would be built in the Bay of Bengal and have a regasification capacity of 7.5 million tonnes per annum (MTPA).
The company presented its proposal to Petrobangla, which includes two GBS configurations with different storage capacities. The larger one would have about 290,000 cubic metres of gross LNG storage capacity, while the smaller one would hold about 194,000 cubic metres.
Novatek claims that the GBS technology is more resistant to severe weather conditions and could offer longer life compared to a conventional land-based terminal. The design life of a GBS is estimated to be 60-80 years, whereas a conventional terminal would have a design life of 40-60 years.
The proposal also includes plans for a 'virtual pipeline' system, where small vessels would transport LNG from the offshore terminal to riverbank facilities near major gas-consuming areas. This could supply large volumes without relying on the existing pipeline network.