Genting signs EPCIC contract for Indonesia’s first FLNG vessel

Genting Berhad subsidiaries on June 20 signed an engineering, procurement, construction, installation, and commissioning (EPCIC) contract with Wison New Energies (WNE) for the delivery of a floating liquified natural gas (FLNG) vessel. The contract is valued at US$1 billion, according to Genting Berhad’s official LinkedIn page.

In a late June release, Liu Hongjun, chairman of Wison New Energies, said the project marks the first FLNG vessel in Indonesia and will contribute to the country’s energy transition and economic development.

With a nameplate capacity of 1.2 million tonnes/year (tpy) of LNG, the vessel is expected to be deployed to Teluk Bintuni, West Papua, Indonesia. Feed gas will be supplied from Asap, Merah, and Kido fields in the Kasuri block concession area. A revised plan of development for the structures was approved by the Indonesian government in February 2023, allowing the supply of 230 MMscfd of natural gas to the FLNG for 18 years, according to Malaysian media.

On Sept. 8, 2023, the parties entered a limited notice to proceed agreement to purchase long lead items for the vessel. The first steel of the project was cut on June 7, 2024. First LNG is expected in third-quarter 2026.