Saudi Aramco and ACWA Power sign Bangladesh LNG terminal deal
Published by Will Owen,
Reuters is reporting that Saudi Aramco and ACWA Power have signed a deal with Bangladesh for the development of a 3600 MW LNG-based power plant and terminal.
At the agreement signing ceremony, the Bangladesh government announced that the Saudi companies will invest approximately US$3 billion. ACWA chairman, Mohammad Abdullah Abunayyan, has since stated that his company would make the direct investment by next year. He described the project as a ‘landmark’ and noted that it would be the largest gas-to-power development the company had been involved in.
The project will reportedly be located in either the Moheshkhali area of Cox’s Bazar or the port of Payra.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/18102019/saudi-aramco-and-acwa-power-sign-bangladesh-lng-terminal-deal/
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