PLN, Petronas sign MOU on W. Java LNG terminal
Wednesday, August 18 2004 - 12:03 PM WIB
Malaysian state oil firm Petronas said Wednesday it had tied up with state-owned electricity firm PT Perusahaan Listrik Negara (PLN) to develop a liquefied natural gas (LNG) re-gasification terminal in West Java, AFP news agency reported from Kuala Lumpur Wednesday.
The terms of the memorandum of understanding (MOU) include plans for the two parties to undertake a joint study for the proposed development of the West Java re-gasification terminal project, Petronas said in a statement.
Petronas said the terminal would initially have a capacity of 400 million cubic feet per day (MMCFD), and this will eventually build up to 800 MMCFD.
Expected to be operational in 2007, the terminal would complement Indonesia's existing gas supply sources to meet the growing gas demand.
"The MOU is another milestone for Petronas in its efforts to establish a long-term presence in Indonesia's oil and gas industry," Petronas added (*)