MITSUBISHI KEEN ON IMPLEMENTING INDONESIAN LNG PROJECT

Posted on: Tue, 20 Apr 2010 02:20:43 EDT

JAKARTA, Apr 20, 2010 (AsiaPulse via COMTEX) --

Mitsubishi Corp. said it is still keen on implementing a multi billion U.S. dollar liquefied natural gas project in Donggi-Senoro, Central Sulawesi.
Mitsubishi is a 51 per cent owner of PT Donggi-Senoro LNG (DSL), which will handle the gas project estimated to cost US$3.7 billion, including US$1.7 billion for the development of the gas reserves and US$2 billion for the LNG plant.
"We still want to cooperate with our partners in the Donggi-Senoro project and the government," Shunsuke Nanami, a Mitsubishi's spokesman said.
Mitsubishi will team up in the DSL with state-oil and gas company PT Pertamina and PT Medco Energi Internasional (JSX:MEDC) respectively with shares of 29 per cent and 20 per cent.
Natural gas for the LNG is to be supplied from the Matindok gas field of Pertamina and Senoro gas field, which is jointly owned by Pertamina and Medco.
Development of the project has long been delayed over the government regulation that requires all gas from the gas fields to be used for domestic consumption.
The project owners wants to export part of the gas in LNG to a number of Japanese buyers.
The government is expected to revise its regulation allowing part of the LNG to be exported.
(ANTARA) cg

Source: http://www.tradingmarkets.com/news/stock-alert/msbhy_mitsubishi-keen-on-implementing-indonesian-lng-project-922529.html

 

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