NASSAU, THE BAHAMAS – 26 August 2026 – The Utilities Regulation and Competition Authority (URCA) has approved the proposed change in control of Baker’s Bay Utility Ltd. (BBUL) in the Natural Gas Sector, subject to specified conditions.

The transaction will result in members of Baker’s Bay Golf and Ocean Club, through Baker’s Bay Club Limited, acquiring 100% control of Baker’s Bay Associates, LLC and, consequently, BBUL.

BBUL currently holds Liquefied Natural Gas Importer and LNG Terminal Operator licences, both subject to self-use restrictions. In reviewing the proposed transaction under the Natural Gas Act, 2024, URCA determined that the change in control is not likely to substantially lessen competition in The Bahamas and is not contrary to the public interest.
URCA’s approval requires that the transaction be completed in accordance with the structure and terms presented to URCA. BBUL must also notify URCA and provide copies of the relevant agreements within seven calendar days of completion.

The full Adjudication – In the Matter of a Request for a Change in Control of Baker’s Bay Utility Ltd. in the Natural Gas Sector (NGS 21/2026) is available here.