BP agrees LNG supply deal with Indonesia power firm PLN
JAKARTA (Reuters) -- BP has agreed to supply Indonesia's state electricity firm PT Perusahaan Listrik Negara with 16 cargoes of LNG per year from 2020 to 2035 from its Tangguh project in Eastern Indonesia, Indonesia's upstream oil and gas regulator (SKKMigas) said on Wednesday.
The agreement was signed at the Indonesian Petroleum Association Convention and Exhibition 2017 along with five other domestic sale agreements, said SKKMigas chief Amien Sunaryadi in a statement.
The government is expected to get $5 B in revenue from LNG sales during the period of the contracts, Sunaryadi added.
Indonesian LNG producers have faced an increase in uncommitted cargoes of the super-cooled fuel in recent years amid an expansion of cheap gas production globally and sluggish development of domestic LNG consumption.
Reporting by Bernadette Christina Munthe and Wilda Asmarini; Writing by Gayatri Suroyo; Editing by Richard Pullin
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