Jakarta, Indonesia (News Today) - The Indonesian government looks set to extend a 10-year contract with Japanese buyers for the supply of 25 million tons of liquefied natural gas until 2020. Both sides had come close to extending the contract, Director General of Oil and Gas at the Energy and Mineral Resources Ministry Evita Legowo said here on Tuesday."Only a few things still have to be solved," she said.
Head of the Upstream Oil and Gas Executive Agency (BP Migas) Priyono said the extended contract for the supply of 25 million tons of LNG would be signed soon.
"We are now waiting for approval from the minister," he said.
On February 13, 2009, in Osaka, Japan, state oil and gas company Pertamina, Total EP Indonesie, and Inpex Corporation signed a head of agreement (HOA) with six Japanese companies as part of efforts to extend the contract for the supply of LNG from Bontang, East Kalimantan. The six Japanese buyers are Chubu Electric Power Co, Kansai Electric Power Co, Kyushu Electric Power Co, Nippon Steel Co Ltd, Osaka Gas Co Ltd, and Toho Gas Co Ltd.
Under the 10-year contract, three million tons of LNG will be shipped annually in the first five years and two million tons annually in the second five years. The volume of LNG shipped under the extended contract falls sharply compared to the previous contract which reached 12 million tons annually.
Instead, the government will use 1.5 million tons from a decline in LNG exports to meet demand from floating regasification terminal in the Jakarta Bay and 0.16 million tons to Kaltim fertilizer plant annually. The government and Japanese buyers signed for the first time a contract for the supply of LNG in 1973. The contract was extended in 1981.
Source : kompas
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