CBM Asia, PT Navigat Energy Sign MoU

CBM Asia signed a Memorandum of Understanding with PT Navigat Energy to supply up to 5.0 MMscf/d of coalbed methane from its planned production pilot to gas engine power generation projects in the Barito Basin, South Kalimantan, Indonesia.

The two parties will proceed to negotiate with PT PLN, Indonesia’s state power supplier, on the sale of power and gas. CBM Asia’s role will be limited to gas producer and supplier.

PT Navigat Energy is an integrated distributed power project developer in South East Asia focused on the value chain of equipment sales, services, construction and asset ownership of small scale power projects (1-100MW). The group is involved in the supply and development of a total 803 MW in Thailand, Indonesia and Myanmar and is supported by the largest power equipment supplier, General Electric and Standard Chartered Bank, one of the largest banks in Asia.

“With the signing of Gas-to-Power MOU and the Gas-to-LNG MOU (signed in September), we have established commercial channels for early monetization of up to 55 MMscf/d from pilot production and beyond under Plan of Developments,” states Alan Charuk CBM Asia’s President and CEO. “The quality of our potential gas offtakers, joint venture partners and their financial supporters will play a major role in our ability to secure project financing for these exciting development programs.”

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LNG World News Staff, November 27, 2013; Image: CBM Asia