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AG&P and Risco create LNG JV

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LNG Industry,

Atlantic, Gulf and Pacific Co. (AG&P) has announced that it has created a joint venture (JV) with Risco Energy Group Pte. Ltd, in which both parties will design, manufacture, finance, charter/lease, operate and maintain compact and mid scale LNG terminals in Indonesia and their associated supply chains.

The JV will meet the requirements of Indonesia across storage, transport, regasification, power and full terminal solutions for the country’s coasts, rivers and roads. Together, both companies will help meet the requirements of the power, bunkering, mining, transportation and industrial sectors.

AG&P will leverage its ability to develop the full scale LNG supply chain for compact and mid scale applications, whilst Risco will utilise its expertise in the Indonesian energy and power markets. The latter’s downstream portfolio augments last-mile capabilities through its fleet of LNG-carrying trucks, as well as with its credentials in converting heavy equipment to LNG as fuel.

GAS Entec, which AG&P has ownership in, will also be involved in the JV.

Hari Karyuliarto, Risco’s Chairman, said: “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. We are deeply honoured to serve our beloved country.”

Ken Sauer, Risco’s Managing Director, added: “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.”

Yudistira A. Wibawa, AG&P’s Indonesia Country Manager, said: “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 optimised for Indonesia’s shallow water harbours, 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, said: “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. We are humbled to play a part.”

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