AG&P LNG Awarded 20-Year Contract by PLN EPI

Source: 3/26/2024, Location: Asia

- The Sulawesi-Maluku, the largest power cluster in Indonesia, will have LNG import terminals of a total regasification capacity of 2.3 million metric tonnes per annum (MMTPA) with multiple regasification sites across its 7 locations.
- Expected commissioning of the Sulawesi-Maluku LNG Cluster in H1 2026.
- PT PLN Energi Primer (PLN EPI), a wholly owned subsidiary of PT PLN (Persero) Indonesia will be the customer and co-shareholder in the facility.
- LNG to be supplied by PLN EPI from their domestic LNG allocation.

Leading LNG terminals and downstream infrastructure
company, AG&P LNG, majority-owned by Nebula Energy, announced that its subsidiary PT AGP Indonesia Utama (AG&P Indonesia), along with consortium members Suasa Benua Sukses (SBS) and KPMOG, collectively referred to as the Consortium, has won a large-scale 20-year contract for LNG infrastructure from PLN EPI in Indonesia. The tender was awarded to AG&P LNG for the co-development, ownership and operations of LNG import terminal infrastructure and downstream logistics in seven locations within the Sulawesi-Maluku cluster in Indonesia. The customer and co-shareholder in this facility will be PT PLN Energi Primer (PLN EPI), a wholly owned subsidiary of PT PLN (Persero) Indonesia.

AG&P Indonesia, along with its Consortium members, will establish a joint venture (JV) with PLN EPI to collaborate on the design, financing, construction, ownership, and operations of all offshore and onshore infrastructure within the Sulawesi-Maluku cluster LNG terminals. This infrastructure includes the LNG Carrier (LNGC), Floating Storage and Regasification Unit (FSRU), and multiple onshore regasification sites. The aim is to supply LNG and natural gas to seven power plants with a cumulative capacity of 1,510 MW.

Mr. Karthik Sathyamoorthy, CEO of AG&P LNG said, “The Sulawesi-Maluku cluster LNG terminals project epitomizes Indonesia's steadfast commitment to LNG-based infrastructure for power generation and will support the country’s overall goal to reduce the usage of liquid fuel by about 1.7 million kiloliters per year across all clusters. AG&P LNG is honored to partner with PLN EPI in this project of national importance, fostering a robust partnership for years to come.”

Mr. Rakhmad Dewanto, Director Gas and Fuel PLN EPI said, “PLN EPI as the soul of supply of gas/LNG for Indonesia's power generation is currently developing both portfolio LNG supply and LNG midstream infrastructures for power sector. We are excited about our joint venture with AG&P LNG and its Consortium members. This partnership will be pivotal to the development of LNG midstream infrastructures to Power cluster project in Indonesia, where Sulawesi-Maluku cluster is the largest. PLN EPI will be responsible to supply the LNG from its portfolio and trust that the Consortium members will deliver the project timely in the first half of 2026. This will be a milestone in our country’s continued transition towards more reliable and cleaner energy.”

Mr. Sam Abdalla, CEO of Nebula Energy and Vice Chairman of AG&P LNG, expressed enthusiasm about the collaboration, saying, "We are thrilled to collaborate with PLN EPI and embark on the development of this large-scale infrastructure investment in Indonesia. Nebula Energy recently signed on to membership in Indonesia’s Carbon Capture and Storage Center (ICCSC) as a technology provider. These partnerships with ICCSC and PLN EPI align with our company's vision of promoting sustainable energy development through global clean energy infrastructure investments.”

AG&P LNG has a substantial growth pipeline with a total of 6 LNG terminals in development with proposed capacity of 25 MTPA across several international growth projects. Among its LNG terminal project portfolio, AG&P LNG is the operator of the first LNG import and regasification terminal in the Philippines, the Philippines LNG (PHLNG) Import Terminal located in Batangas Bay. Earlier this month, on March 7th, AG&P LNG announced the acquisition of a 49% stake in Cai Mep, a US$ 500M fully constructed LNG Import Terminal, with a capacity of 3 MTPA, expandable to 6 MTPA, and one of the only two existing LNG terminals in Vietnam.

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