SPC and partners open new pipeline

abarrelfullabarrelfull wrote on 25 Mar 2015 13:25
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04-August-2003

Singapore Petroleum Company Limited (“SPC”) and partners, Petronas, ConocoPhillips and Talisman Energy Inc., together with PT Perusahaan Gas Negara (Persero) (“PGN”), the state-owned gas transmission company of Indonesia and Singapore Power, jointly opens the Grissik-Batam-Singapore pipeline today.

The new 470-km pipeline, designed for a throughput capacity of 650 mmscf/day, will bring natural gas from Indonesia’s Sumatra Island to Singapore.

“The opening of the new pipeline is a defining moment in history. It captures the aspiration of the pipeline partners and inspires a bolder spirit to plan and work towards the realisation of the Trans-Asean Gas Pipelines (“TAGP”) network, an ambitious and exciting programme to fully integrate gas supply lines throughout the region,” comments Mr Leon Codron, Chief Executive Officer of SPC.

“SPC is proud to be a partner in this new gas pipeline that brings gas, a cleaner and regionally abundant fuel, to the Singapore market,” he adds.

Background
In September 2002, SPC, as part of a joint venture company with partners Petronas, ConocoPhillips and Talisman Energy Inc., known as Transasia Pipeline Company Pvt. Ltd. (“Transasia”), acquired a 40% equity stake in PT Transportasi Gas Indonesia (“Transgasindo”), a subsidiary of PGN. SPC has a 15% equity interest in Transasia through its wholly owned subsidiary SPC Indo-Pipeline Co. Ltd.

Apart from the newly launched pipeline, SPC through Transasia and its equity stake in Transgasindo holds an interest in an existing 540-km Grissik-Duri Pipeline. Additionally, SPC owns a small stake in the West Natuna Gas Pipeline, a 650-km submarine pipeline linking the offshore facilities of the three West Natuna Production Sharing Contracts (“PSC”) to Jurong Island in Singapore.

SPC plans to expand and grow its midstream business consistent with its long-term strategy of being an integrated oil and gas company.

SPC is a subsidiary of Keppel Oil and Gas Services Pte Ltd, a wholly–owned subsidiary of Keppel Corporation Limited.


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