Mubadala Energy strikes deal for gas supply to Indonesia
The UAE’s Mubadala Energy and PLN Energi Primer Indonesia, a subsidiary of state-owned utility company PLN, have signed a “heads of agreement” deal for gas supply from a field in the Andaman Sea.
Such a deal is non-binding and outlines the key terms of a proposed pact.
The wholly owned unit of Mubadala will supply gas to Indonesia’s North Sumatra and Aceh provinces from its Tangkulo gas field, 65km off the northern coast of Sumatra Island, the companies said in a joint statement.
Abdulla Bu Ali, president director of Mubadala Energy Indonesia, said the agreement with PLN aims to meet domestic demand and strengthen Indonesia’s energy security.
Indonesia’s energy sector, particularly electricity, is expected to grow at an average annual rate of 5.3 percent until 2034, necessitating infrastructure development and diversification of supply sources to ensure long-term security.
Further reading:
- Mubadala’s $1bn sukuk order book oversubscribed five times
- Mubadala-backed Corient in $214bn asset deal
- Mubadala takes 60% stake in Brazilian road operator
Rakhmad Dewanto, CEO of PLN Energi Primer Indonesia, said the agreement is part of developing a gas supply portfolio to support energy security and Indonesia’s energy transition.
Mubadala Energy’s portfolio is 70 percent gas, with production capacity of more than 450,000 barrels of oil equivalent per day across 11 countries, according to the company’s website.
Ayrıca Şunları da Beğenebilirsiniz
Prysm releases mainnet incident analysis: Beacon nodes received authentication from nodes that may be out of sync with the network.
Trump has narrowed his choice for the next Fed chair to Kevin Warsh and Kevin Hassett
