Exspan, PLN sign gas deal for S. Sumatra?s Borang power plant
Monday, February 9 2004 - 12:02 PM WIB
Publicly listed oil company PT Medco Energi International confirmed on Monday its subsidiary PT Exspan Nusantara had signed a Gas Sales and Purchase Agreement with state-owned electricity firm PT PLN to supply a total of 40,638 billion British thermal unit (BBTU) or around 41 billion cubic feet (BCF) of natural gas to the latter?s Borang gas-fired power plant in Palembang, South Sumatra province.
?The gas is priced at US$2.55 per MMBTU and it originated from Exspan?s Gunung Kembang and South Sumatra Small Fields of the South Sumatra Extension block,? Medco said in a statement.
Gas supply to the 30-megawatt power plant is planned to start in August 2004 for 10-year period, Medco added.
Exspan earlier said that the natural gas would be delivered at a rate of 13 million cubic feet per day. (Robert)