Bangladesh-based Summit Power and Japan’s Mitsubishi Corporation with its subsidiary Diamond Gas has signed a MoU to develop a LNG-to-Power project at Matarbari, Bangladesh that is expected to cost up to US$3 billion.
Bangladesh-based Summit Power and Japan’s Mitsubishi Corporation with its subsidiary Diamond Gas has signed a MoU to develop a LNG-to-Power project at Matarbari, Bangladesh that is expected to cost up to US$3 billion.
Under the MoU, the parties agreed to develop an integrated LNG receiving terminal with a regasification capacity of up to 1,500 million cubic feet per day (mmcfd), two units of 1,200 MW gas turbine combined cycle power projects (total of 2,400 MW), relevant high voltage transmission lines and the import of LNG.
Muhammed Aziz Khan, Chairman of SPI said: “This MOU will help SPI support Bangladesh’s fast-growing energy, power and technology needs. It will be a strategic fit for SPI to leverage Mitsubishi’s LNG, and LNG-to-Power expertise as well as understanding of Moheskhali and Bangladesh’s power needs. The two groups are well-positioned to uniquely benefit from opportunities arising from the Bangladesh Government’s move to raise LNG imports to meet the country’s domestic natural gas shortfall and expand the country’s power generation capacity.”
Source: Pipeline ME
