Marubeni : Receives Exclusive Development Rights of Thilawa LNG To Power Project in Myanmar
July 27, 2020 at 07:40 am IST
Share
July 27, 2020
Marubeni Corporation
Marubeni Receives Exclusive Development Rights of Thilawa LNG To Power Project in Myanmar
Marubeni Corporation (hereinafter, "Marubeni"), with Sumitomo Corporation (hereinafter, "Sumitomo"), Mitsui & Co., Ltd (hereinafter, "Mitsui") and Eden Group Co,. Ltd (hereinafter, "Eden Group"), has received a Notice To Proceed (hereinafter, "NTP", granting exclusive rights of project development) from the Ministry of Electricity and Energy of Myanmar (hereinafter, "MOEE") for an LNG To Power Project (hereinafter, "Project") in Thilawa, Myanmar.
The scope of this Project includes the building, owning and operation of a 1,250MW LNG fueled thermal power plant and onshore LNG receiving, storage and regasification facility of the largest capacity in Myanmar. It also includes a long-term power purchase agreement for the sale of generated power to the Electric Power Generation Enterprise (hereinafter, "EPGE"), a stated-owned enterprise under MOEE, over a 25-year term after commercial operation commences. The Project further includes the procurement, shipping, storage and regasification of LNG. Now that the NTP has been received, Marubeni with Sumitomo, Mitsui and Eden Group will proceed with the development of the Project by firstly carrying out the detailed feasibility study followed by procuring financing, and constructing the power plant and associated facilities.
In Myanmar, rapid economic growth has caused expectations to rise for overseas IPP(*) developers to supply power to meet the increasing demand for electricity. Demand for electricity is especially high in the Thilawa region, which has a Special Economic Zone where Marubeni also invests. Marubeni, Sumitomo, Mitsui and Eden Group will continue to contribute to further economic development in Myanmar by supplying safe and stable power through the Project.
In the power market, Marubeni has expanded its power generation assets to over 12GW (net) in 19 countries, including Japan. Marubeni is committed to contributing to the development of infrastructure in Asian countries by utilizing its extensive experience and knowledge. Also, we will continue to develop LNG-to-Power projects, such as this Project, which include the energy chain of LNG procurement, shipping, storage and regasification to the production of electricity.
(*) IPP : Independent Power Producer
Project site:
Thilawa, Yangon, Myanmar
Generating Capacity:
1,250MW
Power Off-taker:
EPGE
Contract Period:
25 years after commercial operation date
Sumitomo Corporation
Establishment:1919
Representative:
Masayuki Hyodo (Representative Director, President and Chief Executive Officer:)
Headquarters:
Tokyo, Japan
Business outline:
General Trading House
Mitsui & Co., Ltd
Establishment:1947
Representative:
Tatsuo Yasunaga (President and CEO)
Headquarters:
Tokyo, Japan
Business outline:
General Trading House
Eden Group Co., Ltd.
Establishment:1990
Representative:
Chit Khine (Chairman)
Headquarters:
Yangon, Myanmar
Business outline:
Local conglomerate
◎
Thilawa, Yangon
Myanmar
Attachments
Original document
Permalink
Disclaimer
Marubeni Corporation published this content on 27 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2020 02:10:00 UTC
Marubeni Corporation is a diversified group organized primarily around 12 business segments:
- sale of agricultural products and related services (47% of net sales): sale of agricultural inputs (crop protection products, fertilizers, seeds, etc.), precision farming services, formulation of crop protection products, export of cereals and oilseeds, etc.;
- sale of food products (17.6%);
- production and distribution of oil, gas, alternative energy and electricity (10.4%);
- production of chemicals and petrochemicals (6.4%);
- production of metals and mineral resources (4.9%);
- sale and financing of industrial and construction machinery and equipment (4.6%). The group also develops car sales and tire distribution activities;
- sales of consumer electronics (4.3%). In addition, the group develops real estate development and management activities;
- sale of forest products (2.3%): wood chips and biomass fuel, pulp and waste paper, paper, paperboard, hygiene products, building & construction materials and wood products;
- sale of apparel, accessories, textile and lifestyle products (1.1%);
- management and operation of aircraft and ships (1%);
- development of energy production units and industrial installations (0.3%);
- finance and leasing (0.1%): auto finance, aircraft leasing, aircraft engine leasing, leasing and renting of refrigerated trailers, commercial vehicles and commercial freight railcars, etc.
Net sales are distributed geographically as follows: Japan (37.2%), the United States (42.5%)
MARUBENI CORPORATION 
