Malaysia's Petronas Interested to Join Abadi LNG Project
(Reuters) — Malaysian state oil and gas company Petronas has expressed interest to participate in Indonesia's takeover of Shell's stake in the Abadi LNG project, Indonesia's upstream oil and gas regulator told a parliamentary hearing on Wednesday.
The Indonesian government has said a consortium of state-owned energy firm Pertamina, the Indonesia Investment Authority (INA) — the country's sovereign wealth fund — and other companies could take Shell's 35% stake in the Abadi liquefied petroleum gas project after the energy company signaled its intention to withdraw.
"Petronas is also interested to join and if possible, work together with Pertamina in terms of replacing Shell," chairman of regulator SKK Migas, Dwi Soetjipto, said.
Petronas said it could not immediately comment on the matter.
Japanese energy company Inpex Corp. controls 65% of the project, also known as the Masela gas project, in Indonesia's southeast Maluku islands.
Pertamina has conducted data room study and is due to submit a non-binding offer to Inpex and Shell this month, Soetjipto added.
Inpex is expected to submit a revised development plan on the project to include a carbon capture installation in their investment in December.
The project had previously been expected to cost around $20 billion.
"It is hoped that in line with (Inpex's new plan), the new partners could also have been decided. Because it is impossible for Inpex to revise without knowing who its new partner is," Soetjipto said.
Related News
Related News
- 1,000-Mile Pipeline Exit Plan by Hope Gas Alarms West Virginia Producers
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Greenpeace Ordered to Pay $667 Million to Energy Transfer Over Dakota Access Pipeline Protests
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Enbridge Plans $2 Billion Upgrade for North America’s Largest Crude Pipeline
- New Alternatives for Noise Reduction in Gas Pipelines
- Construction Begins on Ghana's $12 Billion Petroleum Hub, But Not Without Doubts
- Missouri Loses Control Over 1.5 Million-Mile Gas Pipeline Network as Feds Step In
- Enbridge Plans $2 Billion Upgrade for North America’s Largest Crude Pipeline
- South Dakota Governor Signs Bill Banning Eminent Domain for Carbon Pipeline
Comments