AG&P, Risco plan JV company to deliver energy in RI

By Romel S. Gurky

Philippines? Atlantic, Gulf and Pacific Company (AG&P), which is engaged in infrastructure solutions for energy, natural resources and other industrial companies, and Risco Energy Group Pte. Ltd. (Risco), an energy investment company focused on building out the LNG supply chain in Indonesia, have announced plan to set up a joint venture company. AG&P and Risco will design, manufacture, finance, charter/lease, operate and maintain compact and mid-scale LNG terminals and the supply chains that emanate from them.

AG&P said in a statement on Wednesday the joint venture will cater to the distributed energy requirements of Indonesia across storage, transport, regasification, power and full terminal solutions for Indonesia?s coasts, rivers and roads. AG&P and Risco together will serve the needs of the power, bunkering, mining, transportation and industrial sectors.

The joint venture partners AG&P?s capacity to develop the full LNG supply chain for compact and mid-scale applications with Risco?s deep expertise in the Indonesian energy and power markets. Risco?s downstream portfolio augments last-mile capabilities via its fleet of LNG-carrying trucks as well as with 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.

?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. Such a supply chain goes a long way to making possible Indonesia?s mandate to bring electrification to everyone as quickly as possible,? said Hari Karyuliarto, Risco?s Chairman.

?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, Risco?s Managing Director.

Said Yudistira A. Wibawa, AG&P?s Indonesia Country Manager, ?The AG&P and Risco JV follows AG&P?s recent launch of its line of its 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. With Risco, we now bring to Indonesia an even greater sense of and ability to make our terminal and supply chain solutions relevant for this tremendous market. We are privileged to work with Risco and to serve Indonesia and its exciting companies.?

Anupam Ahuja, Senior Vice President of AG&P commented, ?Indonesia is undergoing a profound transformation as a leading-edge economy in and a model for Southeast Asia. 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.?

Editing by Reiner Simanjuntak