Malaysian offshore service provider Coastal Contracts has entered into a binding memorandum of understanding to acquire 215 ordinary shares in JSK Gas from Indonesia’s PT. Jaya Samudra Karunia International (JSK) and Yudha Kurniawan Tanos for a total of $6.55m.
The deal gives Coastal Contracts a 49% stake in JSK Gas, making it a jointly controlled entity of the company.
“The proposed joint venture is in line with the initiative of the CCB Board of Directors to tap into the growing LNG supply chain and to further expand its business activities in the LNG downstream sector. With this acquisition, together with JSK, as the owner of FRU and FSU that form essential part of the infrastructure to support the 200MWh power plant, CCB will be able to build a new portfolio of LNG related business which is core to the LNG downstream sector, especially for small-scale FSRU which is suitable for archipelagic region, less capital intensive and requires shorter construction period,” Coastal Contracts said in a release.
JSK Gas provides floating LNG services across the entire midstream LNG chain as well as floating power plant services.
Http://splash247.com/coastal-contracts-buys-into-indonesian-lng-market/
Recent Post
The Directorate General of Sea Transportation carries out the Oversight Cooperation Agreement Progra
The Directorate General of Sea Transportation carried out an Oversight at the Head Office of PT Bureau Klasifikasi
New BKI Medan Branch Office Increases Business Effectiveness and Productivity
As a state-owned holding company for survey services - IDSurvey, in 2022, BKI Medan will contribute 17.5 percent of 100
Biro Klasifikasi Indonesia (BKI) Collaborates with Badak LNG to Develop Shipping Resources and Cert
PT Biro Klasifikasi Indonesia (Persero) or BKI as the parent BUMN of IDSurvey Holding initiated cooperation in the
BKI Wins the 2023 GRC Award as The Best in Corporate Risk Management
PT Biro Klasifikasi Indonesia (Persero) or BKI won an award at the 2023 GRC & Performance Excellence Award. This
Visit to the Chinese Classification Board
On September 12-13 2023, the IDSurvey Board of Directors visited CCS in order to strengthen cooperation between the two