KUALA LUMPUR: Bumi Armada Bhd has entered into a non-binding agreement with Indonesian state-owned PT Pertamina International Shipping and natural gas trading company PT Davenergy Mulia Perkasa to develop and commercialise liquefied natural gas (LNG) from the Madura gas field and its surrounding fields.
In a statement, Bumi Armada said it will collaborate with Pertamina International Shipping to construct 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.
Davenergy Mulia Perkasa meanwhile is dedicated to advancing Indonesia's LNG market while actively contributing to the nation's growth via the delivery of reliable and sustainable energy solutions that support the nation's net-zero aspiration.
Bumi Armada said 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.
"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 decarbonisation solutions globally," said Bumi Armada CEO Gary Christenson.