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Bahamian Government to Sign Heads of Agreement with AES Next Week

The Bahamian government next week plans to enter into a non-binding partnership agreement with AES for the development of an LNG terminal and associated pipeline proposed for Ocean Cay, the Minister of Agriculture and Marine Resources announced yesterday
July 26, 2006

The Bahamian government next week plans to enter into a non-binding partnership agreement with AES for the development of an LNG terminal and associated pipeline proposed for Ocean Cay, the Minister of Agriculture and Marine Resources announced yesterday. The minister acknowledged that the process leading up to the agreement was “long, tedious and drawn out,” but added that the government used detailed analyses to arrive at a fact-based decision. The project would help diversify the Bahamian economy, which is driven primarily by tourism; the terminal could bring $25 million or more to the country in the first year of operation. Coverage by Bahamasb2b.com may be found here and here.

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