Tuesday September 05, 2006

Indonesia to cut LNG supply to 6 million tons after 2010

marketwatch.com :

Indonesia's state-run oil and gas company Pertamina has reached an agreement with Japanese end users to cut shipments of liquefied natural gas by half to 6 million metric tons a year after current supply contracts expire in 2010, a spokesman for Kansai Electric Power Co said.

Indonesia's President Susilo Bambang Yudhoyono said in March the country might reduce its LNG exports to Japan after 2010, to boost the availability of natural gas for domestic industries amid decreasing natural gas production.

Kepco, Japan's second largest utility in terms of both revenue and output, imported 4 million tons of LNG in the fiscal year to March 2006, 46% of which came from Indonesia. The company reduced its dependence on Indonesian LNG from 74% in fiscal 2002 to 46% in fiscal 2005 by importing more LNG from countries like Qatar and Australia. Japan imported 58 million tons of LNG in 2005, of which 25% was from Indonesia.

- The Indonesian situation gets more ominous. And note that Japan has been running the LNG race for quite some time already, while Singapore hasn't even reached the starting line.

See also :

1. Indonesia's LNG supremacy wanes as Chevron's fields run short
2. Indonesia likely to terminate gas exports

(2006-09-05 13:13:24 SGT) [Energy] Permalink

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