(The Philippine Star) | Updated December 25, 2016 - 12:00am
MANILA, Philippines – Atlantic, Gulf and Pacific Co. (AG&P) has forged a partnership with an Indonesian firm to widen its foothold in the liquefied natural gas (LNG) business in Southeast Asia.
The joint venture deal signed with Risco Energy Group Pte. Ltd. calls for the design, manufacture, lease, and operation of compact and mid-scale LNG terminals.
Risco is a prominent energy investment company focused on building the LNG supply chain in Indonesia.
AG&P senior vice president Anupam Ahuja said the joint venture would primarily cater to the distributed energy requirements of the dynamic and fast-growing island nation of Indonesia across LNG storage, transport, regasification, power and full terminal solutions.
“The JV plays a critical role in growing our LNG foothold in Southeast Asia, as the partnership brings both the LNG expertise of both AG&P and Risco. It also follows AG&P’s recent launch of its line of ultra-shallow draft LNG carriers and shuttles which are optimized for Indonesia’s shallow water harbors, estuaries and rivers in, for example, Sumatra, Java and Kalimantan,” he said.
“With Risco, we now bring to Indonesia an even greater sense of and ability to make our terminaland supply chain solutions relevant for this tremendous market. We are privileged to work with Risco and to serve Indonesia and its exciting companies,” the company official said.
For his part, Risco chairman Hari Karyuliarto said the joint venture would deploy the necessary elements to transport LNG and see the delivery of gas to almost anywhere in Indonesia that serves end-user clients.
“Such a supply chain goes a long way to making possible Indonesia’s mandate to bring electrification to everyone as quickly as possible. We are deeply honored to serve our beloved country,” he said.
Ahuja said the two companies would eventually meet the commercial opportunities from priority LNG markets in the rest of Southeast Asia.
“AG&P and Risco together deliver all aspects of a comprehensive, virtual LNG pipeline capable of spanning the waters and roads of Indonesia. By making distributed energy available, affordable and sustainable, we will transform the lives of many people and continue Indonesia’s path to clean fuels,” said Ken Sauer, managing director at Risco.
Risco’s downstream portfolio augments last-mile capabilities via its fleet of LNG-carrying trucks as well as its credentials in converting heavy equipment to LNG as fuel.
In addition, AG&P will bring to the joint venture its ownership in Gas Entec, the highly-regarded, Korea-based engineering firm specialized in compact and mid-scale LNG design.
AG&P, Gas Entec and Risco can design and build for charter or lease all aspects of the LNG supply chain in-house.