Third LNG terminal deal: Chinese firm tipped despite cheaper offers

Large portions of a proposal being considered by the government for the third floating LNG terminal closely mirror another proposal submitted just 38 days before by a US-based company.

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Asifur Rahman Asifur Rahman Representational image made with the help of AI Large portions of a proposal being considered by the government for the third floating LNG terminal closely mirror another proposal submitted just 38 days before by a US-based company.

US company NS Energy Navigation’s chief executive is the grandson of a ruling party lawmaker, which raises questions about the fairness of the selection process.

The similarities are so extensive that a project map in the June 19 proposal of China National Energy Engineering & Construction Co (CNEE) still carries the name of the earlier proposer: “Proposed NS Energy FSRU”.

The Cabinet Committee on Economic Affairs on July 28 approved in principle the proposal from CNEE, even though other global companies have put in offers that are cheaper.