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October 23, 2019updated 25 Oct 2019 8:32am

Saudi Aramco and Acwa Power to develop $3bn LNG plant in Bangladesh

LNG terminal and power plant will have a generation capacity of 3,600MW.

By MEED   

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.

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. 

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