Pertamina offers one year LNG purchasing contract to overseas buyers

By Febry Silaban

State-owned oil and gas firm PT Pertamina (Persero) has now started offering excess LNG scheduled to be produced throughout 2016 to potential buyers interested to purchase it in bulk rather than on a per-cargo basis.

"In addition to offering the excess LNG on a per-cargo basis on the spot market, Pertamina has also has begun offering the 2016 excess LNG production in bulk, meaning interested buyers may get the whole excess production from January through December 2016,? an industry source said to Petromindo.com.

According to the source, there were companies which are interested to buy the LNG on the one-year contract scheme, namely BP and Shell.

"If no agreement is reached on price, the LNG will put back to the spot market," the source added.

Editing by Johannes Simbolon