48 cargoes of LNG still unsold for next year
Saturday, December 12 2015 - 07:37 AM WIB
As many as 48 cargoes or around 19 percent of a total of 250 cargoes of LNG that Indonesia will produce next year still have no buyers.
This was said by Director General of Oil and Gas IGN Wiratmaja on Tuesday.
Indonesia will produce 140 cargoes of LNG from the Bontang LNG plant in East Kalimantan and 110 cargoes from the Tangguh LNG plant in West Papua next year, according to Petromindo.com data.
The lack of demand is also experienced by the Tangguh Train3 project, the new train that the Tangguh consortium plans to build. Thus far,the project has only got a purchasing commitment from state owned electricity firm PT Perusahaan Listrik Negara (Persero) (PLN) for between two and four cargoes per year. Meanwhile, Tangguh Train 3 has the capacity of producing 16cargoes per year.
The info provided by Wiratmaja regarding Tangguh Train 3 is slightly different what has been provided by BP Plc, the leader of the Tangguh consortium. The firm recently said the consortium has signed a sales and purchase agreement with PLN (to supply up to 1.5 million tons of LNG a year for19 years beginning in early 2015. In addition, BP has also secured commitment from a Japanese customer (Kansai Electric) of 1 mtpa from Train 3.
Editing by Johannes Simbolon