Chiyoda Corporation is pleased to announce that it has been awarded the design development and engineering of a new Floating, Storage, Re-gasification and Power Generation (FSRP) facility by Kumul Petroleum Holdings Limited (KPHL).

This project is an important step towards meeting the demand and supply requirement set out in the PNG 2030 Strategic Plan, which has set goals of connecting 70% of the PNG population to secure electricity by 2030. It will also provide PNG’s growing heavy industries with much needed environmentally cleaner and sustainable fuel options for their additional power generation requirements they seek to increase productivity on.

The new FSRP facility will have the capacity to generate 75 MW of power to be exported to the local transmission grid, in addition to being able to load and store 140,000m3 of LNG which can be offloaded to small scale (SS) bulk cargo vessels and redistributed to smaller local power generation locations, and regasify and export gas via pipeline for local heavy industrial power generation. It will be located on the northern coast of PNG, close to Lae, bringing much-needed power generation to the area which contains some of the country’s key resources projects.

Based on Chiyoda’s experience in PNG and its expertise of FSRP facilities, Chiyoda will provide KPHL with a wealth of engineering expertise in partnership with Moss Maritime of Norway and Nippon Yusen Kaisha for the first of the contracts. Chiyoda positions PNG as one of its priority countries for its business field and will contribute to the realization of PNG’s 2030 Strategic Plan.

About Chiyoda

Chiyoda Corporation (TSE: 6366; ISIN: JP3528600004), headquartered in Yokohama, Japan provides services in the fields of engineering, procurement and construction on a global basis for gas processing, refineries, other hydrocarbon and industrial plant projects, particularly gas value chain projects, in the USA, South East Asia, the Oceania regions, the Middle East and Russia for about 70 years.

About Kumul Petroleum

Kumul Petroleum Holdings Limited (Kumul Petroleum) is Papua New Guinea’s National Oil and Gas Company.

Kumul Petroleum was established under the Kumul Petroleum Holdings Limited Authorisation Act 2015 and is registered as a company under the Companies Act 1997. It is mandated by the Independent State of Papua New Guinea (State) to manage the State’s interests in all oil and gas projects in the country.

Kumul Petroleum is the parent company of Kumul Petroleum (Kroton) limited which manages the State’s 16.57 percent interest in the PNGLNG Project.