June 20, 2024. Wison New Energies (WNE) and PT Layar Nusantara Gas and Genting Oil & Gas Sdn Bhd, both subsidiaries of Genting Berhad, officially signed an EPCIC (Engineering, Procurement, Construction, Installation, and Commissioning) contract for the delivery of a FLNG facility after the luncheon hosted by the Ministry of International Trade and Industry of Malaysia and Associated Chinese Chambers of Commerce and Industry of Malaysia (“ACCCIM”) in conjunction with the visit of Chinese Premier Li Qiang to Malaysia to commemorate the 50th anniversary of the establishment of diplomatic ties between the People’s Republic of China and Malaysia.
With a nameplate capacity of 1.2MTPA of LNG production, the FLNG facility adopts the Wison’s standardized design (efficient liquefaction process and hull) and is planned to be deployed to West Papua, Indonesia.
Witnessed by the senior leaders of the two countries, Mr. Liu Hongjun, Chairman of Wison New Energies, and Tan Sri Lim Kok Thay, the Chairman and Chief Executive of Genting Berhad together with Dato’Sri Tan Kong Han, President & COO & Executive Director of Genting Berhad, signed the EPCIC contract.
Mr. Liu said, “We are very honored to cooperate with Genting Group. The successful signing of this project will further promote Belt and Road cooperation, and greatly contribute to Indonesia’s energy transition and economic development. The Genting Group’s FLNG facility is not only the first FLNG facility in Indonesia, but also another milestone FLNG project for WNE as this will be the third FLNG facility built by us. We will go all out, live up to the expectations of our client, and ensure the timely delivery of this project with high quality.”
On September 8, 2023, both parties entered into a Limited Notice to Proceed Agreement (LNTP Agreement) to purchase long lead items for 1.2 MTPA FLNG. The first steel of project has been cut on June 7, 2024. The project is expected to achieve first drop of LNG in the third quarter of 2026.
