RI seeks to revise Tangguh LNG price for Fujian to $11 per mmbtu
Monday, March 10 2014 - 01:22 AM WIB
Upstream authority SKK Migas expects the selling price of LNG from the Tangguh plant exported to China?s Fujian terminal to be revised upward to US$11 per mmbtu to better reflect the current market price, a report said Monday.
Investor Daily quoted Deputy for Commercialization Control at upstream oil and gas authority SKK Migas, Widhyawan Prawiraadmadja as saying that the government of Indonesia has already submitted the proposal for a higher new price to Fujian, but the latter has yet to make a response.
The government has been seeking to renegotiate for a higher selling price of the Tangguh LNG exported to Fujian as the current price of $3.5 per mmbtu is considered too low compared to the market price.
Vice Minister of Energy and Mineral Resources Susilo Siswoutomo said recently that he government wanted the LNG price renegotiation process to be completed this year. (*)