Companies + projects
Japanese companies JICA, JERA and Sumitomo are behind Chattogram’s fossil gas and LNG buildout
Japan is bankrolling a fossil-heavy megaproject Bangladesh can't afford. MIDI (Moheshkhali–Matarbari Integrated Infrastructure Development Initiative) locks in up to 13 gigawatts of new LNG power and a coal plant on a fragile coast instead of investing in a renewable energy future.
Companies Under the Spotlight
Japan's public finance is shaping Bangladesh's energy future.
📍 Japan
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- Japanese public finance institutions JICA (Japan International Cooperation Agency) and JBIC (Japan Bank for International Cooperation) are driving Bangladesh’s energy future.
- JICA has created Bangladesh’s power master plans since 2010 and is currently involved in the fossil-heavy MIDI megaproject.
- JBIC has previously funded gas power in Bangladesh and more recently signed an agreement that entails “the creation of business opportunities and promote business by Japanese companies in Bangla
JERA is the largest power company in Japan and a major investor in fossil gas and LNG in Bangladesh.
📍 Japan
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- JERA has expansion plans in Bangladesh, through its ownership in Summit Power International. In 2025, JERA opened an office in Bangladesh as JERA Bangladesh.
- JERA is bidding on the Matarbari Onshore LNG Terminal and planning further multi-billion-dollar LNG expansion in Bangladesh.
Sumitomo Corporation was involved in the controversial Matarbari 1 coal plant and continues to back new LNG projects.
📍 Japan
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- After Sumitomo’s involvement in the controversial Matarbari 1 coal power project, the company committed not to be involved in Matarbari 2, the second phase of the coal project, which is now officially cancelled.
- Sumitomo is also a bidder for the proposed Matarbari Onshore LNG Terminal.
Major LNG supplier to Bangladesh, and operator of two floating gas import infrastructure.
📍 Japan
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- US LNG company Excelerate Energy imports roughly 25% of Bangladesh’s fossil gas supply.
- Excelerate Energy operates the only two offshore Floating Storage and Regasification Units (FSRUs) in Moheshkhali, Bangladesh.
- The company also owns the Moheshkhali Floating LNG (MLNG) FSRU, while it only operates Summit LNG FSRU.
- It is unclear if the 2026 US-Bangladesh trade agreement to import US LNG worth US$15 billion over 15 years, involved Excelerate Energy or not
Projects Under the Spotlight
MIDI
The Moheshkhali-Matarbari Integrated Infrastructure Development Initiative (MIDI) will lock Bangladesh into further fossil-gas and LNG import dependency instead of a clean, renewable energy future.
Matarbari LNG Import Terminals
The proposed Matarbari LNG terminal (onshore) could deepen Bangladesh’s dependence on costly imported gas. Explore its status, risks and renewable alternatives.
Matarbari 1 coal power
The construction and operation of Matarbari 1 coal power project has had a devastating impact on the local community and environment.
Read more about the project and the harms it poses on people and climate.
View sources
- The study for master plan on coal power development in the People's Republic of Bangladesh
- https://jacses.org/en/wp-content/uploads/2025/09/EN_-MIDI-report.pdf
- Project Financing for Meghnaghat Natural Gas-Fired Combined Cycle Power Plant Project in Bangladesh | JBIC Japan Bank for International Cooperation
- JBIC Signs MOU on Strategic Cooperation with Government of Bangladesh : Strengthening Cooperation in Energy Sector
- Summit Power IPP Project | Investment Project | JERA
- JERA Expands Presence in Asia with New Bangladesh Office to Strengthen Local Partnerships | Notice(2025)
- Matarbari LNG terminal (onshore)
- Summit and JERA explore investment in Bangladesh’s Energy Supply Chain valued at USD 2 Billion
- NGOs welcome Sumitomo Corporation’s decision to end support for the Matarbari 2 coal-fired power plant, and urge the Japanese government and JICA to follow - March 2022
- Cancellation of Bangladesh coal fired power project must be first step to decarbonise - Market Forces
- Excelerate Energy celebrates 3,000th ship-to-ship LNG transfer operation
- Moheshkhali Floating LNG | Excelerate Energy | Integrated LNG Solutions
- Summit LNG | Excelerate Energy | Integrated LNG Solutions
- Agreement between the United States and Bangladesh on Reicprocal Trade - February 2026
Let’s make Chattogram fossil-free!
Protect Chattogram by sending a message to JICA, JERA, Sumitomo and others. These companies can finance renewables instead of fossil gas and LNG to transform Bangladesh's power system while protecting communities, biodiversity and the economy.
Expensive LNG Expansion: How foreign gas interests are a climate disaster for Bangladesh
November 2024
Bangladesh is facing an energy crisis, having suffered repeated blackouts caused by an increasing over-reliance on expensive and polluting fossil gas imports.
Rather than decreasing dependence on volatile international fossil fuel markets, and prioritising clean domestic renewable energy, Bangladesh is being pushed by foreign interests to double down on liquefied natural gas (LNG).
Bangladesh can choose a pathway with clean, green, renewable energy that will protect the environment and allow people to enjoy cheap, affordable electricity.