Bahrain signs energy PPP

The government of Bahrain has signed a $655m energy project, the first in the Middle East to be delivered through a PPP.

A consortium comprised of Teekay LNG (30%), Samsung (20%) and GIC (20%) has signed the agreement with the Government of Bahrain for the development of a Liquefied Natural Gas (LNG) terminal in the country.     

The joint venture will involve the Oil and Gas Holding Company (Nogaholding) with a 30% stake.     

Under the deal, the private partner will build, own and operate the plant for 20 years starting on 15 July 2018. After this period the infrastructure will be transferred to the government.     

The plant will involve a Floating Storage Unit (FSU), an offshore LNG receiving jetty and breakwater, an adjacent regasification platform, subsea gas pipelines from the platform to shore, an onshore gas receiving facility, and an onshore nitrogen production facility.

It will be located in the Hidd industrial area and have a capacity of 800 million standard cubic feet per day.    

 Earlier this year, plans for a new integrated waste PPP deal in Bahrain received interest from nine bidders.