Iran to sign new LNG contract with Indonesia

Oil&Gas Materials 14 September 2011 13:48

Azerbaijan, Baku, Sept. 14 /Trend/

Iran is likely to sign a new gas contract with Indonesia to export LNG to the South Asian country, Mehr News Agency reported, quoting Managing Director of Iran LNG Company Ali Kheyrandish.

"Iran had negotiations with the Indonesian PLN company to export 1.5 million tons of LNG, annually," he said.

It is predicted that by finalizing the gas contract, Indonesia will begin to import LNG from Iran in 2013 for the duration of 10 to 15 years.

Indonesian PLN aims to import 200 billion barrels of Btu LNG from Iran daily, at price of $80 per barrel. Indonesia ranks as the second major LNG exporter in the world, and faces rising demands for gas.