ECOnnect Energy to Deliver Shell-Backed LNG Project in Bahamas
ECOnnect Energy AS said it won a contract to deliver a floating LNG import terminal for a Shell PLC joint venture in the Bahamas. The terminal, using ECOnnect’s IQuay C-Class platform, is expected to start operations from end-2026, with first deliveries in the coming winter season. Shell is the LNG supplier and reported 2025 LNG sales of 72.9 million mt.
How this was made
The 30-second read
Why it matters
The deal adds a new end-market for LNG imports to New Providence and positions Shell as the LNG supplier, with deliveries targeted for the coming winter season after the unit departs Norway in autumn.
Market read
A newly awarded floating LNG import terminal contract links Shell to LNG supply for the Bahamas, with operational timing from end-2026 and first deliveries expected in the coming winter season.
What to watch
Execution risk remains (deployment timeline, permitting, and commissioning). Also, the impact depends on how quickly LNG displaces diesel and on the economics of small-scale LNG supply versus alternatives.
Background
ECOnnect Energy won a contract to deliver a floating LNG import terminal for a Shell joint venture in the Bahamas, using its IQuay C-Class platform.
Ticker impact
Shell is the LNG supplier for the Bahamas floating import terminal tied to its joint venture, with the project’s first deliveries expected in the coming winter.
Likely modest positive for Shell, more relevant for LNG/small-scale LNG sentiment than for near-term earnings.
The article discloses a new project contract and Shell’s role as LNG supplier, but provides no financial terms or volume commitments that would drive a large immediate repricing.
Market effects
Highlights demand for small-scale, floating LNG import solutions in island markets, potentially supporting sentiment for LNG infrastructure providers.
Could reduce Bahamas power-price volatility by enabling LNG imports to New Providence once operational from end-2026.
Reinforces the broader trend of LNG supply diversification via small-scale and bunkering-linked networks.
Counterpoint
Without disclosed contract value, volumes, or margins, the market may treat this as strategically positive but financially incremental.
Key entities
- contractorECOnnect Energy AS
Norwegian contractor providing the floating LNG import terminal platform (IQuay C-Class) and the unit named La Santa Maria.
- LNG supplier and JV partnerShell PLC
Holds 40% in the joint venture (New Providence Gas Ltd) and will supply LNG for the project.
- joint ventureNew Providence Gas Ltd
Shell Bahamas Power Company Inc. joint venture with FOCOL Holdings Ltd for the Bahamas LNG import terminal.
- joint venture partnerFOCOL Holdings Ltd
Co-investor in the Bahamas LNG joint venture referenced in the article.
