Indonesia's Pertamina to swap 0.7 mil mt of LNG from its US offtake

Indonesia's Pertamina to swap 0.7 mil mt of LNG from its US offtake

Indonesian oil and gas major Pertamina is to sign an agreement with a
portfolio seller by the end of 2017, for a swap of 0.7 million mt of LNG
over five years from its contractual offtake commitment with US-based
Cheniere, a senior official from Pertamina said Tuesday.

Pertamina is already in negotiations with the portfolio seller, Djohardi
Angga Kusumah, Pertamina's gas and power senior vice president, said at the
19th Asia Oil and Gas Conference in Kuala Lumpur, Malaysia.

The swap is to take place over the initial five years of Pertamina's
contract with Cheniere, which expands over 20 years starting from 2018-2019,
Kusumah added.

The volume is nearly half of its contractual commitment with Cheniere for
the offtake of 1.52 million mt/year, including 0.76 million mt that is to be
supplied from the Corpus Christi LNG plant in the US Gulf.

The agreement will be similar to another US LNG swaps deal Pertamina signed
with France-based portfolio seller Total in February 2016, Kusumah said.

Under the agreement with Total, the French company will purchase from 2020
onwards around 0.4 million mt/year of Pertamina's contracted LNG volumes
from Corpus Christi LNG in Texas, where operations at both trains are
expected to begin in 2019.

In parallel, Total will supply from its global portfolio to Pertamina a
volume growing over time from 0.4-1 million mt/year of LNG.

--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---

Link to Original Article:
https://www.platts.com/latest-news/natural-gas/kualalumpur/indonesias-pertam
ina-to-swap-07-mil-mt-of-lng-27827748?utm_campaign=plattsbulletinemailtempla
te_dyncontent%20-%20new%20eg&utm_medium=email&utm_source=eloqua

--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---

John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com