Electrogas, a consortium led by Gasol (South Africa) and grouping SOCAR Trading, GEM Holdings (vehicle for Maltese investors) and Siemens Projects Ventures, has been selected as a preferred bidder for a proposed LNG terminal project in Malta. The concession will be on a build-own-operate-transfer (‘BOOT’) basis, over an 18 year life. The project consists in: the provision of a Floating Storage and Regasification Unit (FSRU); the development and operation of a 200 MW independent power producer (‘IPP’); and gas supply. The consortium will be in charge of the first two items. The FSRU will be docked at Delimara and will supply the existing 149 MW gas-fired plant operated by Enemalta, as well as the future 200 MW Electrogas-operated power plant. The latter will be constructed by Siemens under a fixed price lump sum EPC Contract. Siemens will also operate and maintain the power plant under a Long Term Services Agreement. Contract completion will take several months, but work is expected to begin in Q1 2014, with commissioning 18 months later in open cycle operation for the power plant. Combined cycle operation of the power plant is scheduled to be completed within 24 months. The project cost is estimated at e370m.
Source: Gasol
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