Saudi Aramco to supply LNG for Bangladeshi power project
Saudi Arabian state-owned oil company Saudi Aramco could be supplying liquefied natural gas to Bangladesh as part of its deal signed with ACWA Power in October.
To remind, the two companies have signed a with the Bangladesh Power Development Board (BPDB) for an LNG-based power plant and terminal in Bangladesh.
As part of the agreement, ACWA Power will target the development of 3,600 MW gas-fired Independent power plants representing a total investment amount of $2.5 billion, which will help meet the country’s growing power demand.
The project will consist of the intended power plants as well as a regasification terminal on-ground with an expected additional investment of approximately $500 million. The plant will potentially be located in Maheshkhali, or an alternate location, upon completion of the feasibility study.
Speaking to Reuters, Salman Fazlur Rahman, an investment adviser to Bangladeshi prime minister Sheikh Hasina, said that Saudi Aramco is set to deliver LNG for the project and build the liquefied natural gas facility while ACWA will build the power plants.
LNG World News Staff