RI to resume LNG talk with Japanese buyers

The government plans to resume talks in January 2004 with Japanese LNG buyers grouped in the so-called Western Buyers in a bid to extend the current 12 million tons per year contract, chief of the Indonesian oil and gas upstream authority BP Migas, Rachmat Soedibjo told reporters on Tuesday.

He did not elaborate on the planned talks.

The current contract with the Western Buyers will expire in 2010.

The government has been lobbying hard the Japanese LNG buyers, the country's largest LNG market, amid rising competition from producers from Malaysia, Australi, and Qatar. As the LNG market now turns into a buyers market, the government is expected to give a more favorable terms for the Japanese LNG buyers.(Godang)