Bumi Armada Signs Non-Binding Agreement with Pertamina for the Development of LNG

Source: www.gulfoilandgas.com 9/13/2023, Location: Asia

Bumi Armada Berhad (“Bumi Armada”), announced the signing of a nonbinding agreement with PT Pertamina International Shipping (“Pertamina International Shipping”), a shipping and marine logistics subholding of Pertamina, Indonesia’s state-owned energy company, and PT Davenergy Mulia Perkasa (“DMP”), an Indonesian natural gas trading company to record key principles to develop and commercialise liquefied natural gas (“LNG”) from the Madura Gas Field and its surrounding fields.

By leveraging the expertise and experience of its potential consortium members, it is anticipated that Bumi Armada and Pertamina International Shipping will design, engineer, construct, install, commission, hook up and operate a floating natural gas liquefaction and storage facility, together with an LNG carrier to transport LNG to consumers who are not proximate to clean energy sources. DMP is dedicated to advancing Indonesia's LNG market while actively contributing to the nation's growth. This commitment is reflected through the delivery of reliable and sustainable energy solutions that support the nation's net-zero aspiration.

Preliminary discussions have been initiated with several potential off-taker clients and the first shipment of LNG is anticipated to take place three years after making final investment decision. Gary Christenson, Bumi Armada’s Chief Executive Officer, said: “We are excited to collaborate with Pertamina International Shipping and DMP in this opportunity to bring sustainable and scalable solutions to reduce carbon emissions in Indonesia, which is also in line with Bumi Armada’s recently launched decarbonization agenda to achieve net zero by 2050. This collaboration is a testament to our strong commitment towards providing the best decarbonization solutions globally.”


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