Saudi Aramco, ACWA Power to build LNG plant and terminal
Saudi Aramco and ACWA Power signed a deal with Bangladesh to develop a 3,600-megawatt LNG-based power plant and terminal in the country.
As part of the deal, the Saudi companies will invest around $3 billion, the Bangladesh government said at a signing ceremony.
The Bangladesh prime minister's investment adviser, Salman Fazlur Rahman, said the agreement "represented one of the largest deals in Bangladesh's lucrative power sector" and reflected confidence in the country's "investment-friendly environment."
ACWA chairman Mohammad Abdullah Abunayyan said his company would make the direct investment by next year. He described the project as a "landmark" that would be the company's largest gas-to-power development and its first association with Aramco in such a project.
The plant and terminal are set to be built in either the Moheshkhali area of Cox's Bazar or the port of Payra.
Riyadh and Dhaka have long maintained close bilateral relations, with the Kingdom being the largest source of Bangladesh's vital foreign remittances.
Relations have deepened in recent years, with the two countries signing a defense agreement in February. In March, a high-powered 52-member Saudi investment delegation signed a host of agreements and MoUs worth up to $20 billion. (Reporting by Ruma Paul, Editing by Rosalba O'Brien)
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GasPro 2.0: A Webcast Symposium
Following on the heels of the highly successful GasPro 2.0 Webcast Symposium in October 2018, the second GasPro Webcast Symposium 2.0 will take place on October 24, 2019.
The 2019 web event will gather experts in the fields of LNG, gas processing, and gas transport/distribution to share their operations expertise, engineering and design solutions, and technology advances and trends with our audience.
Attendees will learn about technology and operational solutions and deployments in a number of areas: plant design and expansion, construction, NGL production, optimization, sulfur removal, marine operations and separation technology.
October 24, 2019 08:30 AM CDT