Turkish energy firm Karpowership has submitted an Expression of Interest (EOI) to develop an FSRU-based LNG regasification terminal, along with an integrated 200 MW or 300 MW Powership project, under a Public-Private Partnership (PPP) framework in Bangladesh.
In its proposal addressed to Energy Adviser Dr Muhammad Fouzul Kabir Khan,proposed investment aims to support Bangladesh’s sustainable and inclusive energy development.
Karpowership Global DMCC, a subsidiary of the Karadeniz Energy Group, operates the world’s only fleet of floating power plants (Powerships), with a combined installed capacity of over 7,000 MW across four continents.
The firm has offered a fully integrated LNG-to-Power and Gas solution designed to provide quick and reliable electricity using its ready-to-deploy floating assets.
According to Karpowership Executive Board Member Nuri Dogan Karadeniz, LNG will be sourced through the company’s global partners — Shell, BP, or Cheniere.
The plan includes deploying a Floating Storage and Regasification Unit (FSRU) capable of supplying gas directly to both the Powerships and the national grid.
The proposal includes two power generation options — 200 MW and 300 MW — both operating on natural gas supplied via the FSRU.
The proposed FSRU will have a 127,000 CBM storage capacity and a 126 MMSCFD regasification rate. Karpowership also plans to deploy a larger FSRU with 147,000 CBM storage and 750 MMSCFD regasification capacity by 2027.
Both Powerships are ready for deployment and can be made operational within 60-90 days of contract signing. The units will use dual-fuel reciprocating engine technology for greater reliability and operational flexibility.
Under the proposed PPP model, Karpowership offers a long-term fixed monthly payment arrangement, requiring no upfront capital investment from Bangladesh. The company will bear all voyage-related expenses, ncluding fuel and crew mobilisation, to transport the assets to Bangladeshi waters.
Karpowership has also pledged to dispatch a technical site team comprising electrical, mechanical, and marine experts to conduct feasibility assessments and ensure seamless integration with the national grid.
The company said its proposal offers a technically sound and economically viable solution to meet Bangladesh’s rising energy demand while minimizing infrastructure costs and implementation time.
Following submission of the EOI, the Energy and Mineral Resources Division (EMRD) has sought input from the Power Division, an official said.
A Power Division official, requesting anonymity, told Just Energy News that the division has no objection to receiving LNG from the Turkish firm at the Independent Power Producer (IPP) rate.
“If they supply LNG at the IPP rate, we can use it to feed the three major gas-fired plants — Summit, JERA, and Unique — in Meghnaghat,” the official said, adding that the government may amend certain laws if necessary to facilitate the arrangement.