Pertamina wants gas body to help producers

State oil and gas Pertamina's president Baihaki Hakim plans to propose the establishment of an organization of gas exporting countries to protect the interest of the producers in the international markets, Pembaruan reported.

Baihaki said in Jakarta on Thursday that a world gas body such as the Organization of Petroleum Exporting Countries (OPEC) was needed to protect producers and stabilize gas prices in the international market.

He said that without such a grouping, the gas producers would be easily manipulated by international buyers, who often formed a plot to destabilize gas prices.

Indonesia, one of several major liquefied natural gas producers including Indonesia, Malaysia, Australia and some Middle East countries, is expanding its LNG markets to China and India. The country at present exports most of LNG to Japan, Taiwan and South Korea. (*)