Bangladesh's Summit Power to develop $3 bln LNG-to-power project with Japanese firms

[Black_cats]

Bangladesh's Summit Power to develop $3 bln LNG-to-power project with Japanese firms
March 13, 2018, 02:02:00 AM EDT By Reuters


https://www.nasdaq.com/article/bang...er-project-with-japanese-firms-20180313-00042
Reuters


By Jessica Jaganathan

SINGAPORE, March 13 (Reuters) - Bangladesh'sSummit Power International said on Tuesday it signed a memorandum of understanding with Japan'sMitsubishi Corp and subsidiary Diamond Gas International to develop a $3 billion LNG-to-power project.

Under the MoU, subsidiary Summit Corp, group company Summit Holdings and the Japanese firms agreed to develop an integrated liquefied natural gas (LNG) onshore receiving terminal with regasification capacity of up to 1,500 million cubic feet per day (mmcfd) at Matarbari, Moheskhali in the Bay of Bengal.

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

"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."

Summit Power is the largest independent power producer in Bangladesh, representing about 21 percent of the country's private power market last year.

Summit Power is set to be the first Bangladeshi firm to list in the Singapore Exchange Ltd (SGX) by April, as it seeks to raise funds to invest in assets across Asia.

With up to 30 percent of the over 160 million people in Bangladesh lacking access to electricity, Summit hopes to invest in projects to meet that expected increase in demand, Khan told Reuters in February.

Bangladesh will require about 7 million tonnes of LNG by 2022 and similar volumes of coal by 2024, Khan had said.

Diamond Gas International is a wholly-owned LNG sales subsidiary that Mitsubishi Corp established in Singapore.

 

[Tanveer666]

$3B ?how for many MW?

 

[Black_cats]

$3B ?how for many MW?

I do not know whether these two projects are under the same agreement but Summit and Mitsubishi agreed to the following projects

https://www.reuters.com/article/us-...ladesh-project-with-japan-firms-idUSKCN1GP0W1

Under the MoU, subsidiary Summit Corp, group company Summit Holdings and the Japanese firms agreed to develop an integrated liquefied natural gas (LNG) onshore receiving terminal with regasification capacity of up to 1,500 million cubic feet per day (mmcfd) at Matarbari, Moheskhali, in the Bay of Bengal.


They also agreed to develop two 1,200 megawatt (MW) gas turbine combined cycle power generators, relevant high voltage transmission lines and the import of LNG.

 

[mb444]

$3B ?how for many MW?

This is not about power generation. It is about holding LNG and gassing/liquification.