Genting units ink US$1bil EPCC contract with Wison New Energies for FLNG facility

Chairman and chief executive of Genting Tan Sri Lim Kok Thay

KUALA LUMPUR: Genting Bhd has via two of its subsidiaries entered into an engineering, procurement, construction, installation and commissioning (EPCC) contract with Wison New Energies Co Ltd for a floating liquefied natural gas facility with a capacity of 1.2 million tonnes per annum (MTPA).

In a statement, Genting said the contract, inked by its wholly-owned indirect subsidiary Genting Oil & Gas Sdn Bhd and another 95%-owned subsidiary PT Laya Nusantara Gas, is valued at US$962.8mil, but will exceed US$1bil after including reimbursable costs of up to US$70mil.