Just a few additional points to add to Oranje fine summary.
Yes as stated the connection of the full 650MW must wait until 2021 for the new substation ,but that is not EWCs fault ,the NGCP was supposed to have started that as far back as 2015, bureaucratic incompetence or corruption go figure. The Philippine Senate gave EWC the go ahead to connect into the adjacent powerline from the nearby powerstation ,only to be told that the line didn't have the capacity. Then Transcorp told NGCP to verify their claim only for them to admit the line did have the capacity and currently administrative negotiations are on going. EWC can quickly tie in 400MW by a hook tie in to another powerline further away but for reasons unknown to me but supposedly that same as previously this has not occurred. Land purchase for the right of way to the new substation has proceeded well with the exception of one lot still under negotiation.
The loan facility with the Land Bank of the Philippines has caused great frustration with its head leaving then returning and lack of constuctive progress, this may cause management to seek alternate funding. So yes progress is being made but as many have said the Philippines is ______!!
Good news. Negotiations in Indonesia re Forestry permit are proceeding postively and constantly. Resolution in sight.
Next ,due to the installation of the 2 gas compressors,EWC can show and substantiate additional gas supply to its Sengkang powerstation to PLN. Negotiations are now proceeding with favourable goodwill to extending to operation of up to an additional 15years and possibly expand the operation. This with the recent granting of the 20 year extension of the Sengkang PSC will underpin EWC for the next 22years.
The Indonesian partners have been arranged but have to be signed off by the appropriate minister,the word is that it has been on his desk for months but waiting for the signing in of the new government in October ,another wait and see.
It must be remembered that Sengkang has multiples TFC of gas and EWC has negotiated to also supply with partners the domestic gas supply to a area with a population of several million people
The Australian gas operation will add approximately $20-25 mill pa . The Cooper basin Jaws operation continues slowly with dewatering and allowing for gas desorption,its best to follow the STX forum for information on this.One gas analyst in 2018 placed a intial value of $1.6 billion if Jaws was successful (EWC has 1/3 share).
Cheers Doc
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