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ElectroGasMalta has summed up its Delimar power plant project

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The Electrogas consortium recently held a press conference where it announced the results of an internal audit of its company. The company said it began an "extensive internal legal and forensic review" in 2019, following the appointment of three new Directors. The audit showed that there were no signs of corruption in the project to build a gas power plant in Delimar with the participation of Siemens Projects Ventures and SOCAR Trading.

According to Energogas, the audit did not reveal any signs of any violations at the stage of bidding, construction of the power plant and operating activities of Electrogas.

Electrogas also reported that a project worth more than 500 million euros for the construction of a new 210 MW power plant and an LNG regasification terminal was implemented by ElectroGas Malta, which includes SOCAR Trading. In partnership with Siemens and local investment company GEM, it won a public tender in Malta in 2013.

It is known that the management of Electrogas changed after the resignation of shareholder Jorgen fenek.
Fenech was part of the joint venture "jam holdings", which owns 33.34% of the power plant. SOCAR Trading and Siemens Projects Ventures hold 33.34 percent each.

In 2015, ElectroGas Malta signed a contract with SOCAR giving exclusive long-term rights to supply LNG to Malta for the power plant. The first batch of LNG was delivered to the island in January 2017, thus creating the conditions for Malta to completely abandon fuel oil as a source of electricity generation. As noted earlier by the Prime Minister of Malta, Joseph Muscat, this helped reduce electricity prices for the Maltese population by 25% and contributed to a 90% reduction in toxic emissions into the atmosphere.

ElectroGas Malta will also supply electricity and natural gas to the state-owned energy company Enemalta for 18 years. A project worth more than €500 million to build a new 210 MW power plant and an LNG regasification terminal in Malta with the participation of SOCAR Trading was launched in December 2014 and completed in January 2017.

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