Inpex Signs Preliminary Supply Deals for Indonesian LNG Project
(Bloomberg) -- Japanese energy company Inpex Corp. signed preliminary accords to supply liquefied natural gas from an export project that it’s developing in Indonesia.
Inpex reached an agreement in principle with BP Plc, PT Perusahaan Gas Negara Tbk, PT PLN Energi Primer Indonesia and Shell Eastern Trading (Pte) Ltd. for LNG offtake from the Abadi LNG Project in eastern Indonesia, the company said in a statement on Wednesday. Inpex will work with the potential customers toward finalizing sale and purchase agreements.
In a separate statement on Thursday, Perusahaan Gas Negara said it signed a preliminary agreement to buy LNG from the project for 15 years starting in 2033.
The announcement signifies a step forward for the project, which is expected to have an annual production volume of 9.5 million tons, or about 10% of Japan’s imports. The Japanese firm aims to take a final investment decision in 2027. Inpex’s local subsidiary will be the operator, while Pertamina Hulu Energi PT and Petronas Masela Sdn. Bhd. hold stakes.
Inpex also reached an agreement in principle with fertilizer maker PT Pupuk Indonesia (Persero) for pipeline gas supply from Abadi LNG Project, the firm said in its statement.
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