Tangguh LNG renegotiation with China to be concluded in May
Thursday, April 18 2013 - 01:32 AM WIB
The government is hopeful that the Tangguh liquefied natural gas (LNG) price renegotiation with China?s Fujian Province as buyer could be concluded in May of this year.
A source said that government team is scheduled to begin renegotiation talk with China in early May. ?Hopefully, the negotiation can be concluded in May,? the source said.
An advance team has earlier arrived in China to prepare for the finalization of the renegotiation talks.
The government is struggling to get a better price for the Tangguh LNG exported to Fujian as the price of US$3.5 per mmbtu under the current contract is deemed too low. In comparison, the price of LNG in the domestic market has now reached $5-6 per mmbtu.
Editing by Reiner Simanjuntak