The ElectroGas Malta consortium comprising of Siemens, Socar and Tumas was the successful bidder in a 18 year LNG to power project comprising of LNG supply, storage in a FSU and construction of onshore regasification and a 215MW combined cycle power plant.  ECC supported the consortium over a 3 year period:

  • Reviewed the LNG purchase agreement to ensure that  it was in line with industry norms and  met the requirements both of the project and the banks providing finance. 

  • Commercial structuring of the FSU charter agreement.  Worked with the technical team to devise the performance management structure to reward good performance and incentivise speedy remedial measures when performance is lacking.  Lead commercial advisor in the negotiations with FSU owners.

  • Structured and led the tender programme for the regasification plant operator, using ECC’s LNG industry knowledge and contacts.  Lead commercial advisor in the negotiations with bidders.  Worked with the technical team to structure the performance management scheme.  Successful fast track tender with the winning bidder identified 3 months from issue of the tender.

  • The performance management structure for both the FSU and the regasification facility was devised to work with the remuneration structure of ElectroGas Malta for making gas and power available to Enemalta.