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BP reaches LNG supply agreement with Indonesian state electricity firm

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LNG Industry,

According to Reuters, BP has reached an agreement to supply PT Perusahaan Listrik Negara – the Indonesian state electricity firm – with 16 LNG cargoes annually from 2020 to 2035 from the Tangguh project.

Reportedly, SKKMigas chief Amien Sunaryadi said in a statement that the agreement was reached at the Indonesian Petroleum Association Convention and Exhibition 2017, in addition to five other domestic sale agreements.

Sunaryadi added that the government is expected to receive US$5 billion in LNG sales revenue during the contracts’ period.

Reuters reports that Indonesian LNG producers have seen growing uncommitted LNG cargoes in recent years, during an expansion of cheap gas production worldwide, and a ‘sluggish development of domestic LNG consumption’.

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