Indonesia Power, Pertagas set up joint venture
Thursday, April 26 2012 - 05:37 AM WIB
PT Indonesia Power and PT Pertamina Gas (Pertagas) is scheduled today to sign the legal documents for the establishment of a joint venture called PT Perta Daya Gas, which will be engaged in the business of transporting LNG and regassifying the fuel for the areas in eastern Indonesia.
?Indonesia Power and Pertagas will have 65 percent and 35 percent shares respectively in the company. The company?s certificate of establishment will be signed later today,? PT Perusahaan Listrik Negara?s (PLN) Oil Fuels and Gas Division Head M. Suryadi Mardjoeki told Petromindo.com on Thursday.
Indonesia Power is a subsidiary of PLN, while Pertamina is a gas unit of Pertamina.
Both PLN and Pertamina agreed last year to form a joint venture to supply LNG for PLN?s power plants in eastern Indonesia, which at present use expensive oil fuels, such as diesel oil or marine fuel oil.
He said following its establishment, the new company is expected to immediately take actions so that the target of replacing oil fuels with LNG as fuel for power plants in eastern Indonesia starting in 2014 can be achieved.
?In the first phase, Perta Daya Gas may supply 50-80 mmscfd of gas,? he explained.
Editing by Johannes Simbolon