IEV Holdings unit IEV Gas has entered into a memorandum of understanding with Maxpower to collaborate on LNG supply for the purpose of remote power generation in North Sumatera, Indonesia.
The MOU will initiate a feasibility study covering the review of the procurement, transport and delivery of LNG to industrial and remote power generation consumers in North Sumatera, the company said in a statement.
Subject to the results of the feasibility study, the parties shall work towards definitive collaboration agreements setting out, inter alia, specific terms of collaboration and financing obligations, it added.
The MOU is valid for a period of twelve months and may be extended upon the mutual agreement of both companies.
Press Release; Image: IEV