AKRA Selects Hyundai Industries to Build an LNG FSRU Valued at Rp5.75 Trillion

PT Andalanesa Energi Primer (AEP), a joint venture in which PT AKR Corporindo holds a 49 percent stake, has awarded South Korea’s Hyundai Industries a US$319.69 million contract (approximately Rp5.75 trillion) to build a floating storage and regasification unit (FSRU). The vessel will be able to store 170,000 cubic meters of liquefied natural gas (LNG) and convert it back into gas for distribution. Expected to be delivered in mid-2029, it will support AKR Corporindo’s expansion into LNG, with industrial gas demand at the JIIPE estate in Gresik, East Java, providing a customer base.

GAS INDUSTRY NEWS

IDX Channel-Rahmat Fiansyah

PT Andalanesa Energi Primer (AEP), a joint venture in which PT AKR Corporindo holds a stake, has selected South Korea’s Hyundai Industries to build a floating storage and regasification unit (FSRU) to support its liquefied natural gas (LNG) business.

AEP and Hyundai Industries signed the contract on June 30, 2026. Valued at US$319.69 million, or approximately Rp5.75 trillion, the contract will be paid in six installments.

AEP selected Hyundai Industries for its position as one of the world’s largest shipbuilders. The vessel will have a storage capacity of 170,000 cubic meters, with construction and delivery expected to be completed by mid-2029.

AEP was established on June 26, 2026, to lead AKR Corporindo’s expansion into LNG. AKR Corporindo and BW FSRU VII Pte Ltd each hold a 49 percent stake, while PT Arthakencana Rayatama, AKR Corporindo’s controlling shareholder, holds the remaining 2 percent.

The JIIPE industrial estate in Gresik, East Java, provides an existing source of gas demand for AKR Corporindo. The company partnered with BW Group for its experience in operating FSRUs and in the global LNG business.

Source : IDX Channel

PT Andalanesa Energi Primer (AEP), a joint venture in which PT AKR Corporindo holds a stake, has selected South Korea’s Hyundai Industries to build a floating storage and regasification unit (FSRU) to support its liquefied natural gas (LNG) business.

AEP and Hyundai Industries signed the contract on June 30, 2026. Valued at US$319.69 million, or approximately Rp5.75 trillion, the contract will be paid in six installments.

AEP selected Hyundai Industries for its position as one of the world’s largest shipbuilders. The vessel will have a storage capacity of 170,000 cubic meters, with construction and delivery expected to be completed by mid-2029.

AEP was established on June 26, 2026, to lead AKR Corporindo’s expansion into LNG. AKR Corporindo and BW FSRU VII Pte Ltd each hold a 49 percent stake, while PT Arthakencana Rayatama, AKR Corporindo’s controlling shareholder, holds the remaining 2 percent.

The JIIPE industrial estate in Gresik, East Java, provides an existing source of gas demand for AKR Corporindo. The company partnered with BW Group for its experience in operating FSRUs and in the global LNG business.

Source : IDX Channel

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