Pertamina, Tokyo Gas team up on LNG business

State-owned oil and gas firm PT Pertamina signed an MoU with Tokyo Gas on Tuesday to form a strategic alliance on LNG supply chain business.

Pertamina said in a statement Thursday that the cooperation between the two firms comprises of LNG sales and purchase, exchange of LNG cargoes for optimization of LNG stock level, optimizing the utilization of LNG vessels, and the development of LNG regasification and receiving terminals.

The collaboration also covers the development of LNG infrastructure facilities, gas-fired power plants, and gas market.

Pertamina said that it has formed good cooperation with Tokyo Gas since 1990 when the sales contract of LNG from Badak-IV was signed, which expired last year.

Editing by Reiner Simanjuntak