Indonesia to purchase LNG, crude oil directly from UAE
The Jakarta Post
Energy and Mineral Resources Minister Ignasius Jonan and his United Arab Emirates (UAE) counterpart Suhail Mohammed Faraj Al Mazroui discussed Indonesia's intention to purchase liquefied petroleum gas (LPG) and crude oil directly from the United Arab Emirates (UAE) in Jakarta on Thursday.
Transactions for LNG and crude oil will be conducted between Indonesian state-owned energy firm Pertamina and Emirates National Oil Company, said Jonan.
“We hope purchases will no longer be carried out through third parties," said Jonan while receiving the UAE minister at his office, Antara news agency reported.
During the meeting, the two ministers discussed the development of the Ruby Gas field in Sebuku Block by Mubadala Petroleum, a UAE oil and gas company.
In addition to the gas and oil sector, cooperation between the two countries includes port management, efforts to increase flight frequency between the two countries and agricultural deals.
"We also discuss the tax treaty established long ago and which is continuously adjusted to be in line with changes in taxation in both Indonesia and the UAE," he added.
Meanwhile, Mohammed Faraj said the value of current investment in Indonesia reached US$2 billion and estimated that new investment would reach $5 billion after his visit.
He also welcomed the plan of direct purchases. "ENOC has trade procedures, but we are not talking about it now. I think there is no problem, and we welcome the direct purchase," he added. (bbn)
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