FID for Bojanegara LNG terminal postponed
Wednesday, March 11 2015 - 02:33 AM WIB
The Final Investment Decision (FID) for the LNG Storage and Regassification Terminal project in Bojanegara, Pandeglang Regency, Banten Province which is owned by state owned oil and gas firm PT Pertamina (Persero) has been postponed to mid-March.
?The FID was supposed to be made in end of February but has been postponed to mid-March,? VP for LNG, Gas & Power at Gas Directorate of Pertamina Didik Sasongko Widi told Petromindo.com.
According to Didik, the FID for the project has been technically ready but is delayed due to administrative reasons.
Earlier, the company?s Director of New and Renewable Energy Yenni Andayani said her company will set up a consortium with Japanese firm Mitsui Co. Ltd., Tokyo Gas Co. Ltd., and Kalla Group?s subsidiary PT Bumi Sarana Migas to develop the project, which is estimated to require an investment of at least Rp 6.8 trillion.
The planned LNG terminal will have a capacity of 500 mmscfd, or equal to 4 million tons of LNG.
Pertamina hopes that construction of the LNG terminal could start in the fourth quarter of 2015. The facility will receive LNG from the Bontang LNG plant and import the fuel from the U.S. at an estimated volume of around 1.5 million tons per year.
Editing by Johannes Simbolon