Singapore, 27 August 2018 — Mayer Brown advised Mitsubishi Corporation on a deal to acquire a 25 percent interest in Summit LNG Terminal Co (Pvt) Limited, which is developing a liquefied natural gas (LNG) receiving terminal in Bangladesh.

The terminal, under construction off the coast of Bangladesh, is a floating storage and regasification unit (FSRU), which will receive, store and regasify LNG procured by Petrobangla, the country's national oil company.

The project will start commercial operation in 2019 with a planned LNG import volume of about 3.5 million tonnes per annum. Excelerate Energy will provide the FSRU on a 15-year charter agreement.

Mayer Brown advised Mitsubishi Corporation on the acquisition, including providing full due diligence on the signed project documentation.

The Mayer Brown team was led by Nathan Dodd, a partner in the Singapore office and a member of the Global Projects group, and included counsel Sean Prior and senior associate Nick Kouvaritakis.