Saturday, June 22, 2024

Summit halts LNG re-gasification operations

FSRU Damaged by Broken Pontoon During Cyclone Remal: Summit Shuts Down LNG Operations

The recent cyclone Remal wreaked havoc on Summit’s floating storage and re-gasification unit (FSRU), causing significant damage and disrupting LNG re-gasification operations. This unexpected incident led to a 40-percent reduction in LNG re-gasification, impacting gas supplies to industries and power plants in Bangladesh.

The broken pontoon that struck the FSRU during the cyclone remains a mystery, as the full extent of the damage is still being assessed. Summit has taken swift action by involving technical experts to inspect the damage and determine the necessary repairs to resume normal operations.

In the midst of this crisis, Summit has invoked the force majeure clause to mitigate any potential penalties or liabilities resulting from the technical glitch. This clause provides relief to both parties in a contract when unforeseen circumstances, such as natural disasters, prevent them from fulfilling their obligations.

The authorities are closely monitoring the situation, and efforts are underway to rectify the damage and bring the FSRU back online. However, the timeline for resuming operations remains uncertain, raising concerns about potential delays in LNG deliveries and gas supplies.

This incident serves as a reminder of the vulnerability of LNG facilities to natural disasters and the importance of implementing robust safety measures to protect critical infrastructure. As Bangladesh navigates through this challenging period, collaboration between stakeholders and proactive measures will be essential to ensure the stability of gas supply and energy security in the country.

Stay tuned for further updates on the Summit FSRU’s recovery process and the impact of the cyclone Remal on Bangladesh’s energy sector. For more information and inquiries, you can reach out to Azizjst@yahoo.com.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The content is based on general research and may not be accurate, reliable, or up-to-date. Before making any financial decisions, it is recommended to consult with a professional financial advisor or conduct thorough research to verify the accuracy of the information presented. The author and publisher disclaim any liability for any financial losses or damages incurred as a result of relying on the information provided in this article. Readers are encouraged to independently verify the facts and information before making any financial decisions.

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