IEV Holdings, Maxpower Indonesia Sign LNG Supply Feasibility Study MOU

Singapore based IEV Holdings Limited, through its subsidiary IEV Gas, has entered into a memorandum of understanding (MOU) with Maxpower Indonesia to collaborate on LNG supply for the purpose of remote power generation in North Sumatra. 

The aforesaid MOU will initiate a feasibility study covering the review of the procurement, transport and delivery of LNG to industrial and remote power generation consumers in North Sumatra. 

“Subject to the results of the feasibility study, the parties shall work towards definitive collaboration agreements setting out, inter alia, specific terms of collaboration and financing obligations,” IEV said in a statement.

The MOU is valid for a period of twelve months and may be extended upon the mutual agreement of both parties.