Wednesday, 19 June 2013 | 20:49
Prices of local and imported fruits in Jakarta are still normal.
Wednesday, 19 June 2013 | 20:44
Pertamina is looking to conduct cooperation in petrochemical and
Tuesday, 22 November, 2011 | 15:05 WIB
Pertamina to Buy LNG from Tangguh Block
TEMPO Interactive, Jakarta:The Oil & Gas Upstream Executing Body (BP Migas) is allowing state-run oil company PT Pertamina to buy liquefied natural gas from the Tangguh Block in Papua, BP Migas’ public relations head Gde Pradnyana, announced yesterday.
The government currently exports 2.6 million tons of LNG per year from Tangguh to Fujian, China, for US$3.5 per MMBTU. The price is far below the market price, which is currently at $12 per MMBTU.
Although Pertamina will buy 1.5 million tons of LNG at three times the price, Gde said the government still had the chance to renegotiate the gas price with the Chinese government every four years.
Pertamina’s spokesman, Mochamad Harun, said the company was ready to do a buyback, but was waiting for the RI- China renegotiation in 2012.