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Yahoo
21-05-2025
- Business
- Yahoo
Indonesia Signs Swap Deals to Ensure Domestic Gas Supply
Indonesian natural gas producers have signed a multi-party gas swap agreement with Indonesian and Singaporean traders aimed at increasing gas supply security in western Indonesia. As gas production in Sumatra in western Indonesia is falling, local companies and regulators looks to redirect domestic gas supply to meet local demand while selling overseas gas from other areas. In a deal signed on Wednesday, Indonesian gas producer Medco Energi Internasional signed a multi-party swap agreement with companies including state energy firm PT Pertamina and Singaporean and Indonesian gas traders Oil Natuna Sea B.V., Star Energy (Kakap) Ltd., Sembcorp Gas Pte Ltd., Gas Supply Pte Ltd., Petrochina International Jabung Ltd., and PT Perusahaan Gas Negara (Persero) Tbk (PGN). Under the agreement, specific gas volumes will be supplied to Singapore from the West Natuna Supply Group, replacing volumes currently delivered from Corridor Block and Jabung PSC, the so-called South Sumatra Sellers. These redirected volumes will then be allocated to meet domestic gas demand, with PGN serving as the domestic buyer. 'This collaboration demonstrates a strong example of productive synergy between upstream operators, the regulator, partners and buyers in ensuring gas supply across both domestic and international markets,' MedcoEnergi director and chief operating officer, Ronald Gunawan, said in a statement. Indonesian gas demand is rising, while production at some legacy gas fields is dropping. The country has started replacing diesel as a fuel in dozens of power plants with LNG, which is set to boost demand for natural gas in one of the world's top LNG exporters. Last month, Indonesia awarded five strategic oil and gas blocks to international and domestic players in a bid to reverse its decade-long production decline and bolster energy security. The awards are part of Indonesia's broader upstream revival strategy, with nearly 60 additional blocks expected to be offered over the coming years. 'The government hopes these auction winners will be able to contribute to Indonesia's energy security ahead,' said Tri Winarno, a senior official at the Ministry of Energy and Mineral Resources. By Charles Kennedy for More Top Reads From this article on
The Sun
21-05-2025
- Business
- The Sun
Indonesian gas firms sign gas swap deal to meet domestic demand
TANGERANG: Gas producers in western Indonesia have signed a swap deal with state-owned distributor Perusahaan Gas Negara and Singaporean buyers Sembcorp Gas and Gas Supply Pte to shore up domestic gas supply, state energy firm PT Pertamina said on Wednesday. The gas swap scheme aims to ensure demand from Indonesia's power sector and industry is met in anticipation of declining natural gas production in Sumatra, Pertamina said in a statement. Under its terms, Indonesian gas producer MedcoEnergi - whose units operate within the West Natuna Supply Group and Corridor Block, which are also parties to the deal - will replace flows to Singapore from the Corridor Block with those from the WNSG, Medco said in a separate statement. Flows from the Corridor Block will be re-diverted to meet Indonesia's domestic gas needs, with Perusahaan Gas Negara as a domestic buyer. Medco also signed a separate gas sales agreement with PGN. The collaboration will ensure adequate gas supply in the domestic and international markets, said Ronald Gunawan, MedcoEnergi's director and chief operating officer. Indonesia's oil and gas regulator SKK Migas had previously said it was aiming for a gas swap to begin in June.
Reuters
21-05-2025
- Business
- Reuters
Indonesian gas firms sign gas swap deal to meet domestic demand
TANGERANG, Indonesia, May 21 (Reuters) - Gas producers in western Indonesia have signed a swap deal with state-owned distributor Perusahaan Gas Negara and Singaporean buyers Sembcorp Gas and Gas Supply Pte to shore up domestic gas supply, state energy firm PT Pertamina said on Wednesday. The gas swap scheme aims to ensure demand from Indonesia's power sector and industry is met in anticipation of declining natural gas production in Sumatra, Pertamina said in a statement. Under its terms, Indonesian gas producer MedcoEnergi - whose units operate within the West Natuna Supply Group and Corridor Block, which are also parties to the deal - will replace flows to Singapore from the Corridor Block with those from the WNSG, Medco said in a separate statement. Flows from the Corridor Block will be re-diverted to meet Indonesia's domestic gas needs, with Perusahaan Gas Negara as a domestic buyer. Medco also signed a separate gas sales agreement with PGN. The collaboration will ensure adequate gas supply in the domestic and international markets, said Ronald Gunawan, MedcoEnergi's director and chief operating officer. Indonesia's oil and gas regulator SKK Migas had previously said it was aiming for a gas swap to begin in June.
