South Korea?s KEPCO plans to buy LNG from RI
Thursday, July 31 2003 - 03:05 AM WIB
Minister of Energy and Mineral Resources Purnomo Yusgiantoro said on Thursday that South Korea?s power utility Korea Eletric Power Corporation (KEPCO) has expressed interest to purchase between 1.1 million ? 1.5 million tons of liquefied natural gas (LNG) per year from Indonesia.
Purnomo said that the LNG purchase plan emerged during a visit earlier this month to South Korea to seek for LNG deal. Under the initial talks with KEPCO, the Indonesian government would provide an opportunity for KEPCO to develop power plant in Indonesia in return for buying the Indonesian LNG.
Purnomo said that the LNG delivery was expected to start in 2006-2007.
Speaking on the sidelines of a conference, Purnomo said that he would soon return to South Korea to make further discussion with KEPCO.
South Korea's steel makers SK Corp and Posco have earlier agreed to purchase some 1.5 million tons of LNG per annum from Indonesia's Tangguh LNG project under a 20-year contract.(Alex)