Summit Power International and Mitsubishi have signed a MoU to develop a $3 billion LNG-to-power project in Bangladesh.
The MoU between Summit Corporation, a subsidiary of Summit Power, Mitsubishi Corporation and its subsidiary Diamond Gas International stipulates that the parties will develop an integrated LNG onshore receiving terminal with a regasification capacity of up to 1,500 million cubic feet per day, two gas turbines and high voltage transmission lines and the import of LNG.
Muhammed Aziz Khan, chairman of SPI, says: 'This MoU will help SPI support Bangladesh's fast-growing energy, power and technology needs.
'It will be a strategic fit for SPI to leverage Mitsubishi's LNG and LNG-to-Power expertise as well as understanding of Mohekhali and Bangladesh's power needs.'
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