Indonesia’s state owned energy holding company, Pertamina, has brought plans to develop the country’s second land-based receiving terminal for LNG to a halt.
“Today we are not going ahead, because it is not yet feasible to continue,” Pertamina acting Chief Executive Officer Nicke Widyawati told reporters.
“Gas demand has declined so it’s not feasible from a business standpoint that if gas demand for power generation increased the decision to halt the project may be reviewed.” Nicke was reported to have said. If demand recovers the company may revisit plans to build the terminal.
The 4-million-tonne-per-year terminal would have been developed in Bojonegara, close to Jakarta and was valued at up to $800m. It was scheduled to come online in 2019.
For more information, visit: www.pertamina.com
13th July 2018