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Saudi Aramco and ACWA Power sign Bangladesh LNG terminal deal

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LNG Industry,

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.

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