The Bahamas targets LNG potential
It may be a world-renowned holiday destination but the Bahamas is now making moves in the LNG sector as it seeks a move away from diesel.
On 20 March, Bahamas LNG Partner, a wholly-owned subsidiary of the Bahamas government, signed agreements for the importation and regasification of LNG. It will be used to replace the archipelago’s dependence on diesel fuel in power plants. A terminal deal has been struck with local supplier Freeport Oil Company Ltd and Dutch energy giant Shell, with the latter to supply LNG, according to local media.
This strategic shift aligns with a government goal to provide cleaner, and more affordable energy with lower environmental impact. Currently oil is responsible for nearly all its power generation in the country.
In a related but separate transaction, The Bahamas Power and Light Company (BPL) and the government have entered into a power purchase agreement (PPA) and a transmission interconnection agreement with Energy Bahamas Holdings, a company that will own the power plants powered by the imported LNG.
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