Wison Wins $1 Billion Contract for Indonesia FLNG Facility, Pulls Out of Russia

In Malaysia, Wison New Energies, a China-based clean energy provider, has been awarded a $1 billion contract by Malaysia’s Genting to build Indonesia’s first and the world’s ninth floating liquefied natural gas (FLNG) facility. The project, signed amidst the 50th anniversary of diplomatic ties between Malaysia and China, will be constructed at Wison’s Nantong and Zhoushan shipyards and is expected to process 1.2 million tons per annum of LNG from the Kasuri Block in West Papua, Indonesia by 2026.

Concurrently, Wison is withdrawing from all current and future projects in Russia following the Group of Seven’s (G7) accusations of China ‘enabling’ Moscow’s military efforts and the subsequent introduction of the EU’s 14th package of sanctions targeting Russian LNG projects. This strategic shift reflects broader sanctions and pressures impacting global energy firms operating in contested regions. Wison’s decision to exit Russia marks a significant pivot towards fulfilling energy contracts in less controversial environments, as demonstrated by their new commitments in Indonesia. The move aims to ensure compliance with international sanctions and to mitigate risks associated with geopolitical tensions, aligning Wison’s operations with global regulatory standards and market dynamics.

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