AG&P moves to enter Indonesia via partnership

ATLANTIC, GULF and Pacific Co. (AG&P) has tied up with a company involved in liquefied natural gas (LNG) projects in Indonesia to boost its reach in Southeast Asia, the Philippine-based said on Thursday.

In a statement, AG&P said it had forged a joint venture with Risco Energy Group Pte. Ltd. to “design, manufacture, finance, charter/ lease, operate and maintain compact and mid-scale LNG terminals and the supply chains that are produced from them.”

It described Risco, whose website lists its main office to be in Singapore, as a “prominent energy investment company focused on building the LNG supply chain in Indonesia.”

“The JV plays a critical role in growing our LNG foothold in Southeast Asia, as the partnership brings both the LNG expertise of both AG&P and Risco,” Anupam Ahuja, AG&P senior vice-president, was quoted as saying.

The joint venture will cater to the distributed energy requirements of Indonesia across LNG storage, transport, regasification, power and full terminal solutions, she said.

Ms. Ahuja said AG&P and Risco “will eventually meet the commercial opportunities from priority LNG markets in Southeast Asia, including the Philippines.”

The tie-up comes after AG&P launched a line of what she called “ultra-shallow draft LNG carriers and shuttles which are optimized for Indonesia’s shallow water harbors, 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,” she said.

AG& P said the joint venture matches the company’s capacity to build a full LNG supply chain for compact and mid- scale applications with Risco’s expertise in the Indonesian energy and power markets.

It is also expected to take advantage of AG& P’s stake Gas Entec Co. Ltd., a Korea- based engineering firm specializing in compact and mid- scale LNG design. —