Asia/Pacific News
AG&P and Risco Energy Embark on Indonesian LNG Joint Venture Set to Include Bunkering
Atlantic, Gulf & Pacific Company (AG&P) and Risco Energy Group Pte. Ltd. (Risco) Monday announced a joint venture (JV) that will see the two companies cooperate to design, manufacture, finance, charter/lease, operate and maintain compact, mid-scale liquefied natural gas (LNG) terminals in Indonesia, as well as their related supply chains, including bunkering.
"Together, Risco and AG&P will deploy the necessary elements to transport LNG and see the delivery of gas to almost anywhere in Indonesia that serves our end-user clients," said Hari Karyuliarto, Risco's Chairman.
The joint venture is said to be intended to serve Indonesia's distributed energy requirements including bunkering, storage, transport, regasification, power and full terminal solutions for Indonesia's coasts, rivers and roads.
"Indonesia is undergoing a profound transformation as a leading-edge economy in and a model for Southeast Asia," said Anupam Ahuja, Senior Vice President of AG&P
"Risco, AG&P and Gas Entec working together to bring clean LNG and/or gas will ensure that Indonesia continues to enjoy a resilient, cost-effective and green future with innovative technologies and products. We are humbled to play a part."
As Ship & Bunker reported in August, AG&P announced it had made a "major investment" in Korean-based engineering and design firm GAS Entec Co., Ltd. (GAS Entec) that will see the two companies work together to provide a variety of onshore and floating LNG products, including LNG bunkering, storage, regasification, LNG-fueled power solutions, mooring structures, and storage applications.
AG&P notes that it will leverage its ownership in GAS Entec to serve its new JV with Risco.
The new JV announcement falls in line with company plans discussed last month by Derek Thomas, head of advanced research at AG&P, who said the company's new 4,000 cubic metre (cbm) LNG carrier design would be part of a possible "virtual" LNG pipeline that will "revolutionise" LNG delivery to South East Asian islands.
