Japanese buyer to buy gas from IDD at $13 per mmbtu

By Bernard Loebs

Chevron Indonesia Company (CICO) will sell gas from the Indonesia Deepwater Development (IDD) project in the East Kalimantan to a Japanese buyer for US$13 per mmbtu, according to Abdul Muin, an expert advisor to SKK Migas chairman, said on Wednesday.

He did not identify the Japanese buyer. It remains unclear either if CICO has signed an agreement with the Japanese buyer.

?The schedule for the completion of the project is important in view of the fact that gas in the USA now and in the future is estimated to be lower than the price for the IDD gas,? Abdul said.

?The price to be paid by other buyers is also very interesting, not much different from the price to be paid the Japanese buyer,? he said.

Editing by Johannes Simbolon