Summit, JERA Asia team up to explore investment in energy supply chain

Summit Corporation Limited and JERA Asia Pte Ltd signed a Memorandum of Understanding (MoU) valued at around $2.0 billion in Tokyo on Thursday to explore investment in Bangladesh's energy supply chain, says a press release.
Under the MoU, they will collaborate in providing cost-effective and reliable long-term liquefied natural gas (LNG) and other fuels supply in addition to developing both on-shore and off-shore regasification and storage infrastructure for Bangladesh.
Summit Corporation is a subsidiary of Summit Power International Limited and JERA Asia Pte Ltd is a subsidiary of JERA Co. Inc.
Toshiro Kudama, CEO of JERA Asia, and Ayesha Aziz Khan, Director of Summit Corporation and MD & CEO of Summit Power International, signed the MoU in the presence of Prime Minister Sheikh Hasina, the Prime Minister's Private Industry and Investment Adviser Salman F Rahman, Foreign Minister AK Abdul Momen, State Minister for ICT Division Zunaid Ahmed Palak, BSEC Chairman Prof Shibli Rubayat Ul Islam, Executive Chairman of BIDA Lokman Hossain Miah, Japanese Ambassador to Bangladesh Iwama Kiminori, JETRO Chairman Norihiko Ishiguro, Founder Chairman of Summit Group Muhammed Aziz Khan and Additional Managing Director of Summit Corporation Faisal Khan.
CEO of JERA Asia Toshiro Kudama said, "JERA is keen to assist Bangladesh's objective to secure a reliable energy supply and is pleased to be able to do that by building up the existing relationship with Summit. The signing of the MOU is a significant first step towards achieving the objective. JERA looks forward to further contributing to Bangladesh's reliable energy supply in collaboration with Summit."
Founder Chairman of Summit Group Muhammed Aziz Khan said, "A country's energy consumption has become the main index to its affluence and development. Like the rest of the world, Bangladesh is also facing energy security concerns as a result of high interest rates, supply-chain shock and market volatility. At Summit, we are offering solutions through the development of much needed LNG storage and supply infrastructure with our partner, JERA."
As Bangladesh approa-ches the transition to 'developing country' status in 2026, it faces global energy supply challenges.
Summit and JERA's collaboration offers Bangladesh an alternative affordable energy supply solution by bringing down the cost of importing essential fuels.