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Summit Power signs MOU to develop LNG-to-power project

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LNG Industry,

According to Reuters, Summit Power International have announced the signing of a memorandum of understanding (MoU) with Japan's Mitsubishi Corp and subsidiary Diamond Gas International to develop a US$3 billion LNG-to-power project in Bangladesh.

Under the MoU, the companies agreed to develop an integrated LNG onshore receiving terminal with regasification capacity of up to 1.5 billion ft3/d at Matarbari, Moheskhali, in the Bay of Bengal.

The development of two 1200 megawatt (MW) gas turbine combined cycle power generators, relevant high voltage transmission lines, and the import of LNG were also agreed.

"This MoU will help Summit Power International support Bangladesh's fast-growing energy, power and technology needs," said Muhammed Aziz Khan, chairman of Summit Power International, Singapore.

"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."

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