I have just spoken to a Director of EWC, who having returned...

I have just spoken to a Director of EWC, who having returned from Indonesia yesterday, advised o f the following:
Negotiations/discussion with all relevant Indonesian stakeholders re: LNG project and PPA for 120 MW power plant expansion have been held almost on a weekly basis and are continuing with a view to finalise them. The current state of affairs of these 2 projects is as follows:
1. Sengkang LNG Project:
Last Saturday’s (5 December 2009) meeting with Indonesian authorities indicated that Indonesia wants to fasttrack LNG project. Indonesia’s Government ‘first 100 day’ program may further assist LNG project to progress speedily. In relation to EWC’s LNG project, BPMigas is not involved. EWC talks directly to the Investment Coordinating Board (BKPM). Concreting work at the site is being undertaken as well the necessary EIS is being worked on. LNG trains will be shipped once ‘everything is in place’. Heads of Agreement with PGN can be finalized once all necessary approvals, licences and outstanding issues have been resolved. This is expected early in 2010. The scheduled commencement for commercial operation is still aimed at mid 2010.
2. Sengkang power plant expansion:
EWC has submitted its text re: power purchase agreement (PPA) to PLN. PLN advised that its document was ready last week and then, that it was being sent on Monday 7 December 2009. Once EWC receives PLN document, negotiations to finalise PPA will commence. Following agreement re: PPA, financial close for the 120MW expansion will happen.

Oranje