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Indonesia powers up

GAS and power group Energy Equity Corp expects to generate $1 billion in revenue from a gas and power project in Indonesia over the next 20 years. This follows the gaining of necessary approvals from the Indonesian government to allow the building of a $225 million, 135 megawatt natural gas fired power plant in South Sulawesi, Indonesia. Under a 20-year power purchase agreement, the Sengkang project will sell electricity to Indonesia’s state-owned power company. EEC managing director Maurice Brand said the approvals by the Indonesian government complete three years of planning and development, and the project could start immediately with a target commercial operations commencement in late 1997. The field has proved reserves of more than 400 billion cubic feet of natural gas, 160 billion of which are dedicated for the power station, Mr Brand said.

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