Pertamina, PGN set up JV company to run Jakarta LNG terminal
Wednesday, April 14 2010 - 05:42 AM WIB
State oil and gas company PT Pertamina (Persero) and IDX-listed state gas company PT PGN (Persero) announced on Wednesday the formation of the JV company called PT Nusantara Regas to run the proposed floating LNG terminal to be built in Jakarta.
Pertamina has 60 percent stake in the firm with the balance controlled by PGN.
Djohardi Anggakusumah is appointed as the JV?s CEO and Pertamina?s CEO Karen Agustiawan as chief Commissioner.
The JV is planning to develop an LNG terminal capable to handling 3 million tonnes of LNG per annum or about 500MMCFD with operations expected late 2011 or early 2012.
State electricity firm PT PLN (Persero) will act as offtaker of most of the terminal?s throughput for its power plants in greater Jakarta area. (godang)