JAKARTA BP has agreed to supply Indonesia's state electricity firm PT Perusahaan Listrik Negara with 16 cargoes of liqufied natural gas per year from 2020 to 2035 from its Tangguh project in Eastern Indonesia, Indonesia's upstream oil and gas regulator (SKKMigas) said on Wednesday.
The agreement was signed at the Indonesian Petroleum Association Convention and Exhibition 2017 along with five other domestic sale agreements, said SKKMigas chief Amien Sunaryadi in a statement.
The government is expected to get $5 billion in revenue from LNG sales during the period of the contracts, Sunaryadi added.
Indonesian LNG producers have faced an increase in uncommitted cargoes of the super-cooled fuel in recent years amid an expansion of cheap gas production globally and sluggish development of domestic LNG consumption.
See below for details of the agreements signed on Wednesday:
No Seller Buyer Contract Volume of transaction
1 Tangguh PSC PT PLN 2020-2035 16 cargoes per year
2 Conoco Phillips PT Perusahaan 2018-2023 8 bbtud, ramping up to 37 bbtud
(Grissik) Ltd Gas Negara
3 EMP Bentu Limited PT Pertamina 2016-2020 0.2 mmscfd
4 EMP Bentu Limited Perusahaan 2016-2021 ammendment of existing contract
Daerah Tuah volume from 3 bbtud to 6 bbtud
5 Petrogas Basin PT Malamoi 2017-2020 8 mmscfd
6 PetroChina PT Gemilang 2017-2023 2 bbtud for the first and
International Jabung Energi second year, 5 bbtud for the
Jabung Ltd rest of the contract
(bbtud = Billion British Thermal Units per Day)
(mmscfd = Million standard cubic feet per day)
(Reporting by Bernadette Christina Munthe and Wilda Asmarini; Writing by Gayatri Suroyo; Editing by Richard Pullin)