Pacific Oil & Gas to build power plant in China fired by Tangguh LNG
Tuesday, September 9 2003 - 06:08 PM WIB
Through its subsidiary, East Asia Power Limited, Pacific Oil & Gas signed an agreement with the Government of Xiamen, Fujian, China to build, wholly own and operate a large-scale gas-fired combined cycle gas turbine (CCGT) power plant in Xiamen.
The power plant will have a total design capacity of 1,400 MW. Phase one of the project will start with an initial capacity of 2 X 350 MW and an investment of US$350 million.
? This investment represents a milestone for Pacific Oil & Gas as part of its continuing economic development between Indonesia and China. With China's continued strong economic growth and improving living standards, its power industry must now move quickly to service the rapidly increasing power demands in the country. Indonesia, rich in gas resources, will supply the liquefied natural gas (LNG) from its Tangguh, Indonesia gas field to fire Pacific Oil & Gas' wholly owned CCGT plant,? said the company.
Arthur Ling, President of Pacific Oil & Gas said, "The new CCGT power plant will supply the much needed power for Xiamen as well as Fujian province itself, to help ease the problem of power shortage in the area."
The company said it was also in the process of developing other power plants in China that will utilize LNG from its first 5 million ton per year LNG plant in Indonesia. The LNG from this plant has been committed to other Chinese provinces, which are also experiencing rapid economic growth and the associated demand for more power capacity.
Pacific Oil & Gas is a Hong Kong based company committed to energy resource development in Asia and is supported by RGM International, which is controlled by Indonesian tycoon Sukanto Tanoto. The company had been trying to get permit to build and operate Bontang?s ninth LNG train in East Kalimantan and to market the LNG to China.(alex)