tangguh foja lng carrier

54 Cargos of Indonesian LNG Destined for the Spot Market

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March 31, 2012

JAKARTA (Dow Jones)–Indonesia aims to sell 54 cargoes of liquefied natural gas in the spot market in May, a senior official at upstream regulator BPMigas said Friday.

tannguh lngRudi Rubiandini, operations deputy at BPMigas, said Sempra Energy (SRE) has agreed to divert to the Indonesian government 90% of its contracted supply of 60 cargoes per year from the Tangguh plant in West Papua province operated by BP PLC (BP).

Under a sales and purchase agreement signed in 2007, LNG supply contracted to Sempra can be diverted to other buyers, including the government.

Sempra officials couldn’t be reached for comment.

The energy minister will decide the price for the cargoes, Rubiandini said.

Indonesia is the world’s second-biggest LNG exporter after Qatar. The Tangguh plant is among the country’s key assets, producing 7.6 million metric tons of LNG each year.

-By Deden Sudrajat, contributing Dow Jones Newswires

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