Pertamina, Corpus Christi sign $13b LNG deal
Tuesday, October 27 2015 - 01:21 AM WIB
State-owned oil and gas firm PT Pertamina signed on Monday a US$13 billion LNG sales and purchase contract with Corpus Christi Liquefaction LLC, a subsidiary of US-based Cheniere Energy Inc.
The contract was signed on the sidelines of a visit by President Joko Widodo in the US.
?Our contract with them is for the supply of LNG to Indonesia,? said Pertamina President Director Dwi Soetjipto on Monday.
He added that Pertamina will start receiving LNG from Cheniere in 2019 under a 20-year contract until 2039.
According to Dwi, under the contract, Pertamina has agreed to purchase around 0.76 mtpa of LNG from Cheniere through an FOB scheme with price based on the Hendry Hub monthly index plus a fixed component. The LNG will be delivered using Pertamina?s tanker.
Editing by Reiner Simanjuntak