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PT Navigat signs CBM agreement

World Coal,

CBM Asia has signed a Memorandum of Understanting (MoU) with PT Navigat Energy for the supply of up to 5.0 million ft3 /d of coalbed methane from its planned production pilots to gas engine power generation projects in the Barito Basin, South Kalimantan in Indonesia.

The two companies will now negotiate with Indonesia’s state power supplier, Persero, on the sale of power and gas. CBM Asia’s role will be limited to gas producer and supplier. PT Navigat Energy is currently involved in the supply and development of a total 803 MW in Thailand, Indonesia and Myanmar.

“With the signing of Gas-to-Power MOU and the Gas-to-LNG MOU […] we have established commercial channels for early monetisation of up to 55 million ft3 /d from pilot production and beyond under Plan of Developments,” commented Alan Charuk, CBM CEO. “The quality of our potential gas offtakers, joint venture partners and their financial supporters will play a major role in our ability to secure project financing for these exciting development programs.”

Adapted from press release by Katie Woodward

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