Cleaner Energy & Cleaner Air for the Maltese Islands
The ElectroGas Malta LNG-to-Power Project
The Project consists of the design, construction, maintenance, operation and ownership of an LNG-to-power project in Malta which includes:
- sourcing and storing liquefied natural gas (“LNG”) for the Project;
- designing, constructing, maintaining, operating and owning an LNG regasification facility;
- designing, constructing, maintaining, operating and owning a new 215 MW CCGT rated power plant located in Delimara (“Delimara 4”);
- regasifying LNG and supplying gas to Delimara 4 and the existing 149MW power plant also located in Delimara (“Delimara 3”);
- selling electrical energy generating capacity and energy from Delimara 4 to Enemalta Corporation (“Enemalta”) up to 18 years; and
- selling gas capacity and volumes to Enemalta up to 18 years for the purpose of Delimara 3 operations.
The Project is developed by ElectroGas Malta Limited, which is owned by Siemens Project Ventures GmbH, Socar Trading SA and GEM holding Limited. Each Sponsor holds 331/3% of the shares of the Project Company.
Enemalta, the sole offtaker for the power and gas capacities and productions of the Project, is a public limited company (66% currently owned by the Government of Malta) and the main provider of electricity services in Malta.
The Project is of the utmost importance for Malta’s electricity generation strategy and answers to the need for:
(i) reducing the level of emissions associated with the combustion of fossil fuels generated by the most polluting and less efficient oil-fired conventional power plants;
(ii) reducing the energy generation costs, and;
(iii) reducing Malta’s reliance on other more polluting imported liquid hydrocarbons.
Once fully operational, the Project will be the primary source of power for the country. Construction of the EGM facilities has largely been completed and facilities are now under test.Homepage