LNG To Power Initiative Will Save $180M Annually, Says AG

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NASSAU, BAHAMAS – The Davis administration putting pen to paper with a new purchase agreement with FOCOL Holdings Limited and Shell.

The agreement makes way for the development of an LNG terminal at Bahamas Power and Light’s Clifton Pier plant.

LNG is known to be cheaper, cleaner, and has less price volatility when compared to Deisel and Oil, but the more tangible benefit is the economic impact.

The project will also provide jobs for Bahamians, as phase one and two of the project will cost just under $200 million.

The construction of the terminal is a joint venture between FOCOL and Shell, including the regasification facility and fuel storage facility.

A government special-purpose vehicle will be responsible for purchasing the fuel from Shell and reselling it to various power generators.

Prime minister Philip Davis said the agreement is an essential component in the government’s energy reform plans.

FOCOL Holdings limited Chairman Sir. Franklyn Wilson called the LNG To Power initiative one of the most significant events in an independent Bahamas.

Wilson says, “Cheaper energy, a more reliable supply of that cheaper energy, and the use of that technology, to make us better stuarts of this wonderful country that has provided us.”