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Jakarta Post

PGN to invest $1b in LNG receiving terminals

  • Nani Afrida

    The Jakarta Post

Jakarta   /   Thu, November 26 2009   /  10:12 am

State gas distributor PT Perusahaan Gas Negara plans to allocate US$ 1 billion to build Liquefied Natural Gas (LNG) receiving terminals in West Java and North Sumatra, an official revealed Wednesday.“The investment in the terminals is about $100 million up to $150 million per unit [with some multiple units],” PGN president director Hendi P Santoso told reporters during a hearing between PGN and the House of Representatives.The company acknowledged that it was still seeking some loans from  banks to finance the terminals.
“We probably will find 30 percent of the budget needed from the internal cash flow, with the rest from bank loans,” PGN finance director Riza Pahlevi Thabrani said.It was reported that the company targeted to deliver a maximum of 400 million cubic feet per day in additional gas supply from the West Java LNG terminal, and up to 150 million cubic feet per d...