JERA, Summit partner to develop energy supply chain in Bangladesh

The MoU was valued at US$2b. 

JERA Asia Pte Ltd. and Summit Power International Limited subsidiary, Summit Corporation Limited subsidiary, have partnered to explore investments in the energy supply chain of Bangladesh. 

Under the memorandum of understanding, worth US$2b, JERA and Summit sought to provide cost-effective and reliable long-term LNG and other fuels supply. 

Read more: How much Bangladesh needs annually to reach its 2041 target

This is in addition to developing onshore and offshore regasification and storage infrastructure for Bangladesh. 

"JERA is keen to assist Bangladesh's objective to secure a reliable energy supply and is pleased to be able to do that by building up the existing relationship with Summit,” Toshiro Kudama, CEO of JERA Asia, said.

“The signing of the MOU is a significant first step towards achieving the objective. JERA looks forward to further contributing to Bangladesh's reliable energy supply in collaboration with Summit."