Pertamina holds majority stake in Jakarta LNG terminal

State-owned oil, gas firm PT Pertamina holds 60 percent shares in the floating storage & re-gasification unit (FSRU), also called LNG receving terminal, to be built in the Jakarta Bay.

Pertamina?s Vice President of LNG Business Harry Karyuliarto said that three state-owned enterprises had agreed on the share composition in the joint venture that has been established to build the LNG receiving terminal.

Pertamina will hold 60 percent shares in the project, with remaining 35 shares owned by PT Perusahaan Gas Negara (PGN) and 5 percent by PT Perusahaan Listrik Negara (PLN).

The share composition is subject to change given that the joint venture is seeking another partner for the project, according to Harry.

Earlier, PGN announced it and partners had picked the Indonesian unit of Australian engineering firm Worley Parsons to conduct feasibility study to develop the LNG receiving terminal.

A Petromindo.Com source said that the partnership is currently finalizing a contract with PT Worley Parsons Indonesia with scope of works including feasibility study and tender document preparation.

The LNG receiving terminal is designed with a capacity of 1.5 MTPA.

PGN's President Hendi Prio Santoso said in September 2009 that the terminal will start operations in the second half of 2012.

Gas from the proposed LNG terminal might be supplied from Bontang and Tangguh LNG plants. (godang)