PGN to invest $250m for Lampung FSRU development
Thursday, November 29 2012 - 02:50 AM WIB
?We?ve started the construction since October this year. We have amended the construction plan, and hopefully, we can finalize it in 2015,? Wahid Sutopo, PGN Director for Investment Planning and Risk Management, was quoted by The Jakarta Globe as saying on Thursday.
Speaking on the sidelines of Investor Summit in Jakarta on Wednesday, he pointed out that the FSRU was originally planned in Belawan, North Sumatra, but then the government had ordered PGN to relocate its construction to Lampung.
Although its gas supply is not yet secured, the FSRU is planned to have a capacity of around 240 mmscfd. State engineering, procurement and construction company PT Rekayasa Industri, and Hoegh LNG of Norway had been selected through a tender to construct the gas facility.
Meanwhile, PGN Finance Director Reza Pahlevi said that his company would acquire a gas block next month. It will be its first venture to the upstream gas industry as until now its main business is only on gas distribution business.
?Our plan to acquire a gas block is progressing well. We hope to conclude it next month,? he said at the same occasion.
But he refused to disclose any data on the gas block.
PGN President Director Hendi Prio Santoso stated early this year that his company had allocated around Rp5 trillion (US$518 million) to finance its acquisitions of gas blocks as part of its efforts to solve the problem of gas shortage in the local market. (*)