MOL signed deals for the construction of a floating storage and regasification unit (FSRU), FSRU services, and financing for the Jawa 1 Gas-Fired Project. This is considered Asia’s first gas-to-power project that will use an FSRU. Except MOL, Pertamina, Marubeni and Sojitz will also participate in the project.
This is Asia’s first gas-to-power project using FSRU, electric generation and gas related facilities which will be developed in an integrated manner.
In this project, PT Jawa Satu Power(JSP), a joint venture by Pertamina, Marubeni, and Sojitz, will construct, own, and operate the gas-fired power plant with a generating capacity of 1,760MW in Indonesia’s West Java province while Jawa Satu Regas (JSR) will build, own, and operate a FSRU at sea to storage and regasify LNG to supply fuel to the power plant. The power plant and the FSRU will be maintained and operated. The Indonesian state-owned electricity utility PT PLN (Persero) will buy the electric power, produced by these facilities, for over 25 years.
The project expected to start operation in December 2021, the statement reads.
The FSRU will be placed 14km offshore in the Cilamaya Sea, east of Jakarta. The power plant will be newly constructed on shore near the FSRU site, and connected to the FSRU via a pipeline about 21km long.
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The FSRU with a regasification capacity of 300 million cubic feet per day will be built by the South Korean shipbuilder Samsung Heavy Industries.
According to MOL’s announcement, this project is co-financed by the Japan Bank for International Cooperation, Asia Development Bank, Mizuho Bank, Ltd., MUFG Bank, Ltd., Oversea Chinese Banking Corporation, Crédit Agricole Corporate and Investment Bank, and Societe Generale Bank & Trust. Financing of private financial institutions is insured by Nippon Export and Investment Insurance.
