(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.
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