Article supplied by Upstream
Big spender: PT Pertamina to splash the cash on gas projects in Indonesia
Pertamina green lights $2bn gas spend
PT Pertamina is to splash out almost $2 billion over the next three years as it wins approval for ambitious plans to revamp gas infrastructure in Indonesia.
The Southeast Asian energy giant has laid out spending plans for a floating storage and regasification unit as well as downstream assets as the country looks to supplant much of its oil imports with gas usage.
Pertamina has set aside $1.96 billion to invest in the series of projects until 2014 as part of the government’s national plan on gas from 2010 to 2025, the company said on Friday.
An FSRU and related pipeline in Central Java has been allocated a budget of $1.15 billion with $400 million going on a small LNG receiving terminal elsewhere.
Pertamina is also to spend $380 million on the Arun regasification plant in Aceh, Sumatra, with another $30 million being spent on the construction of pipeline and onshore gas facilities in West Java.
A translation of a statement made in Indonesian on Pertamina’s website read: “Pertamina ¿ has received full support from decision makers (government and BPMigas) to continue the project plans for the construction of gas infrastructure, especially for the revitalisation of the assets of Arun and the FSRU in Central Java.”
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