18 October 2013

Maltese-Azeri investors clinch gas plant deal, Siemens to be lead developers

Times of Malta 13/10/2013: Electro Gas Malta consortium was chosen to build a new power station run on gas and related gas supply infrastructure. German firm Siemens are involved as lead developers with a 20 per cent stake.
The other investors are Socar, the Azerbaijan State energy company, Gasol and a group of Maltese investors.
The Maltese investors are Tumas Group and Gasan. They hold a 30 per cent stake in the consortium. Gasol, a UK-based company, holds another 30 per cent while Socar has the remaining 20 per cent.
The announcement of the preferred bidder was made this morning by Energy Minister Konrad Mizzi.
The consortium will sign a 18-year agreement to supply Enemalta with electricity and liquefied natural gas to run the BWSC plant that will be converted in due course.
Dr Mizzi said the company will sell electricity at a fixed price for five years, with subsequent revisions that will ensure a price "cheaper than that for an oil-fired plant"... read on.