BP Migas signs MOUs to sell more LNG to China
Friday, July 9 2004 - 09:52 AM WIB
Upstream authority BP Migas signed on Friday three memorandums of understanding (MOU) to sell more liquefied natural gas (LNG) to China.
Under the three MOUs, Indonesia will supply LNG to China National Chemical Corporation in Zhejiang province, to Sinocheer in Guangdong and to First China Petroleum in Shandong.
The MOUs were signed in East Java?s provincial capital of Surabaya.
According to BP Migas? officials, Indonesia expects to start supplying LNG to the three provinces starting from 2009 or 2010 at the rate of between 1.5 million and 3 million tons per year.
China has become a hot competition ground for global LNG producers given the huge potentials of its LNG market. Indonesia, the world?s largest LNG exporter, has thus far only succeeded in securing a contract to supply 2.6 million tons of Fujian province, but it has been launching aggressive marketing campaigns to expand its market share in the world?s most populous nation. (Alex)