Bahrain set to open $600 mln LNG terminal tender

Mon Oct 25, 2010 10:41am GMT
 

* Bahrain about to tender LNG terminal

* Costs at least $600 mln

* Bahrain needs to import gas to meet rising demand

MANAMA, Oct 25 (Reuters) - Non-OPEC producer Bahrain has almost finalised a tender inviting companies to build a $600 million liquefied natural gas (LNG) terminal, an executive from the Bahrain Petroleum Company (BAPCO) said on Monday.

"The RFP (request for proposals) will be out today or tomorrow," Essa al-Ansari, general manager at Bapco for major engineering projects told reporters on the sidelines of a conference.

He said it would take the 14 international oil firms that are qualified to bid around 16 weeks to submit their final offers.

The terminal would cost at least $600 million, Ansari said, with a capacity of 400 million cubic feet per day (cfd), which may be expanded to 800 million cfd.

Bahrain, like its Gulf Arab neighbours, has seen a rapid increase in natural gas consumption as its economy has grown with a petrodollar-fuelled boom in the region.   Continued...

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