Shell Approves LNG Regasification Terminal Project in the Bahamas

SEATTLE (Oil Monster): Shell plc has approved a final investment decision (FID) for a new liquefied natural gas (LNG) regasification terminal in the Bahamas. This represents a significant step in the company’s efforts toward expanding cleaner energy infrastructure in the island nation.

The initiative also aligns with the Bahamian government's long-term energy reform plan towards modernization of electricity generation through the gradual introduction of natural gas.

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The project will be developed through New Providence Gas Ltd. (NPG), a joint venture in which Shell Bahamas Power Company has acquired a 40% ownership stake. The remaining interest is held by Sun Oil Holdings, a subsidiary of FOCOL Holdings Ltd. The terminal will be built at Clifton Pier on New Providence Island, the country's largest population center.

Once completed, the facility will receive and regasify LNG for electricity generation, which in turn will reduce dependence on imported diesel and fuel oil.

Shell will serve as the project's LNG supplier and will use its U.S. LNG portfolio to ensure a dependable fuel supply.

The LNG terminal is expected to strengthen the country's energy security by diversifying fuel sources.