Nebula Energy’s AG&P LNG and its consortium members have won a large-scale 20-year contract for LNG infrastructure development from a unit of Indonesia’s state power company PLN.
Besides AG&P Indonesia, other consortium members are Suasa Benua Sukses (SBS) and KPMOG, according to a statement by AG&P LNG.
The tender was awarded by PLN Energi Primer Indonesia (PLN EPI) to AG&P LNG for the co-development, ownership, and operations of LNG import terminal infrastructure and downstream logistics in seven locations within the Sulawesi-Maluku cluster in Indonesia.
The consortium will establish a joint venture with PLN EPI to collaborate on the design, financing, construction, ownership, and operations of all offshore and onshore infrastructure within the Sulawesi-Maluku cluster LNG terminals.
This infrastructure includes the LNG carrier, floating storage and regasification unit (FSRU), and multiple onshore regasification sites, AG&P LNG said.
Also, the aim is to supply LNG and natural gas to seven power plants with a cumulative capacity of 1,510 MW.
The Sulawesi-Maluku, the largest power cluster in Indonesia, will have LNG import terminals of a total regasification capacity of 2.3 million metric tonnes per annum (mtpa) with multiple regasification sites across its seven locations.
PLN EPI will supply LNG from its portfolio.
The partners expect to start commissioning of the Sulawesi-Maluku LNG cluster in the first half of 2026.
AG&P LNG did not provide the financial details of the contract.
AG&P LNG in expansion mode
In January, US investment and asset management firm, Nebula Energy, purchased an 80 percent stake in AG&P LNG from Singapore-based AG&P.
With operational headquarters in the UAE, AG&P LNG now operates as an independent subsidiary of Nebula with key offices in UAE, Singapore, India, Vietnam, and Indonesia.
AG&P LNG has a “substantial growth pipeline” with a total of six LNG terminals in development with proposed capacity of 25 mtpa across several international growth projects, the firm said.
It recently purchased a 49 percent stake in the Cai Mep LNG import terminal from Vietnam’s Hai Linh.
The $500 million facility has a capacity of 3 mtpa, expandable to 6 mtpa, and is one of the only two existing LNG terminals in Vietnam.
Of its LNG terminal project portfolio, AG&P LNG last year launched the first LNG import and regasification terminal in the Philippines, called the Philippines LNG (PHLNG) import terminal located in Batangas Bay.
In May 2023, AG&P LNG commissioned the first import terminal in the Philippines following the arrival of the 137,500-cbm FSU Ish at the terminal’s jetty in Batangas Bay.
The LNG import facility features the converted FSU, which AG&P chartered from Adnoc for a period of up to 15 years.
Power companies Meralco PowerGen, Aboitiz Power, and San Miguel Global Power recently said they wlll buy this facility from a unit of AG&P LNG.