, Sept. 10 -- Summit LNG Terminal II Co. Ltd. (SLNG II), a subsidiary of the Summit Group, has written to Petrobangla asking the state hydrocarbons agency to reconsider the termination of what would have been its second floating storage and regasification unit (FSRU) project, citing potential savings of $1.1 billion for the exchequer, apart from major gains in terms of energy security.

Petrobangla spokesman Tariqul Islam Khan told Platts, a publication focused on the energy industry, that Summit made the request in a letter sent to Petrobangla on September 6.

The Financial Express first reported the development on September 7.

Under SLNG II's proposed build, own, operate and transfer (BOOT) model, Petrobangla would take full ownership ...