Saudi Aramco and Saudi utility developer Acwa Power have signed a memorandum of understanding (MoU) with the Bangladesh government to develop a $3bn liquefied natural gas (LNG) terminal and power plant in the South Asian country.
Acwa Power’s chairman Mohammad Abunayyan was reported as saying the $3bn direct investment would be made by 2020. The project will be Acwa Power’s largest gas-to-power project and the first partnership with Saudi Aramco for such a scheme.
Go deeper with GlobalData
The LNG terminal will be developed in either the Moheshkhali area of Cox’s Bazar or at Payra port. The power plant is planned to have a generation capacity of 3,600MW.
Acwa Power’s CEO and president Paddy Padmanathan recently told MEED that the developer was targeting the growing global demand for LNG and gas-to-power as an additional area of growth.
“I can see us getting involved in gas, in LNG,” said the CEO. “We are looking at some opportunities for gas-to-power that will require us to not only look at the power plant but the infrastructure bringing the LNG to a port, to either floating or fixed LNG terminals or through pipelines.”
MEED
This article is sourced from Offshore Technology sister publication www.meed.com, a leading source of high-value business intelligence and economic analysis about the Middle East and North Africa. To access more MEED content register for the 30-day Free Guest User Programme.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
Related Company Profiles
Saudi Aramco (Inactive)
MOU S.A.
Offshore Technology Corp
MEED
Acwa Power Co