13 January 2015

Award of energy project worth €125 million in Malta

J&P-AVAX SA announces it signed a deal worth €125 million in Malta with Electrogas Malta Limited, a consortium comprising GEM Holdings Limited, Socar Trading SA, SIEMENS Project Ventures GmbH, και Gasol LNG Import Limited.

The project involves the Engineering, Procurement and Construction (EPC) of an installation for the importation and storage of LNG and its regasification. The term of the contract is 18 months.

The plant will supply natural gas to Malta’s largest energy station located in Delimara.

The project includes all specialised technical equipment for the liquefying, storage and regasification of natural gas, control stations and the jetty required for continuous supply of the station with LNG from a floating storage unit.

The tender was contested strongly not only because it concerned an investment by a private entity, namely Electrogas Malta Limited, but also because it was conducted in an EU-member state, thereby attracting international competitors with substantial expertise in EPC of energy projects.

Marousi, January 13, 2015