| Pertamina and PGN Must Find Your Own Funds |
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| Thursday, 06 May 2010 14:31 | |||||||
Page 1 of 2 Jakarta,
Kompas - The government is not going to go invest in the construction
of container terminals and processing of gas that can be moved by
floating on the sea surface. PT Pertamina and PT Perusahaan Gas Negara should be able to seek funds for investment in this project.
"It's a new business. They (Pertamina and PGN) must be able to search for investment funds. Because there is a sizable investment of gasification facilities, change the gas into a liquid, "said Coordinating Minister Hatta Rajasa in Jakarta, Tuesday (4 / 5). Previously, Pertamina and PGN to form a joint venture to build LNG receiving terminals in West Java with the name of PT Nusantara Regas. Ownership of shares each, Pertamina and PGN 60 percent 40 percent, with authorized capital of Rp 2 trillion and paid up capital of Rp 500 billion. Pertamina and PGN will build and operate a LNG receiving terminal with a Floating Storage and Regasification technology unit or floating storage and processing units into a liquid gas in the area of western Java. This LNG to meet domestic gas demand, especially power plants owned by PT PLN. Gas supply is expected from the gas source in East Kalimantan with a total volume of 11.75 million tonnes during the 11 years. Hatta said the government plans to build three floating receiving terminal facilities, namely West Java, East Java and North Sumatra. Chief Economist of the Danareksa Research Institute Purbaya Yudhi Sadewa reminded that Indonesia will learn from the experiences of the year 2002, when the big gas producers such as Conoco Phillips looking for buyers in the country, with a very low price, 2.5 U.S. dollars per MMBTU. However, there was not any who are interested. Finally, Conoco Phillips gas taken in Singapore and Malaysia with cheaper price and the contract up to 30 years. "Indifference is not repeated. Indonesia still has a large enough reserve. Do not let not getting the maximum benefit from the gas reserves, "he continued.
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