Marubeni, Sojitz ink deal for Indonesia LNG power project

Marubeni, Sojitz ink deal for Indonesia LNG power project
Illustration purposes only (Image courtesy of Excelerate Energy)

Japanese trading houses Marubeni and Sojitz entered into a long-term power purchase deal with the Indonesian state-owned utility PLN for a gas-to-power project that includes the provision of a floating storage and regasification unit.

Pertamina, Marubeni and Sojitz, through a joint company Jawa Satu Power have been awarded a US$1.8 billion contract to build, own and operate a 1,760MW gas-fired power plant and an accompanying FSRU.

Pertamina and Marubeni each hold a 40 percent stake in the joint company while Sojitz owns the remaining 20 percent.

The electricity produced by the project will be sold to PLN for a period of 25 years, according to Marubeni’s statement.

Project partners will proceed with the development of the project by procuring financing, constructing the power plant, FSRU and associated facilities with an expected completion in 2021.

The government of Indonesia has set a target to provide an additional 35GW of power capacity by 2019. As a result, there is a high expectation for overseas IPP developers to supply power to meet an increasing demand under the growing economy.

Share this article

Follow LNG World News

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >

Budapest LNG Summit 2019

The Budapest LNG Summit is a niche event focused on the up and coming LNG region of Central & Eastern Europe (CEE).

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Singapore / Jan 2019

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >