Coastal Contracts announced it had signed an MoU with PT Jaya Samudra Karunia Internasional (JSK) PT. Jaya Samuda Karunia Gas (JSK Gas) and Yudha Kurniawan Tanos. Upon completion of the share and cash deal, Coastal Contracts will hold 1,715 JSK Gas shares or 49% stake.
“The proposed jv is in line with the initiative of the Coastal Contracts 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 floating LNG regasification unit (FRU) and floating storage unit (FSU) that form essential part of the infrastructure to support the 200MWh power plant, Coastal Contracts will be able to build a new portfolio of LNG related business.
“This business is core to the LNG downstream sector, especially for small-scale floating storage regasification unit (FSRU) which is suitable for archipelagic region, less capital intensive and requires shorter construction period,” the company said in a statement.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. Add Seatrade Maritime News to your Google News feed.
