Indonesia Giant Oil Producer to Invest $1-Billion for LNG Project in the Philippines

Considered one of Asia’s biggest crude oil producer and seen as the 2nd largest crude producer in Indonesia, PT Pertamina, is currently intending to put in $1 billion for the development of liquified natural gas (LNG) in the Philippines.

The plans of PT Pertamina for Philippine advancement will be prepared through a regasification hub project based on the confirmation produced by the Department of Trade and Industry (DTI).

Secretary Ramon Lopez of the Department of Trade and Industry declared that PT Pertamina has shared interest to do business in the Philippines by getting associated with LNG development in the country under the admin of Pres. Rody Duterte.

Sec. Lopez actually met with PT Pertamina officials last Tuesday.

“The Philippines is very much open for LNG investors. We will assist and work with them in looking for trusted partners until they begin their operations,” he stated.

PT Pertamina corporate marketing director Basuki Trikora Putra stated the company is prepared to offer integrated LNG solutions by investing in FSRU (floating storage and regasification unit) or land-based LNG regasification and also offer competitive LNG supply.

“Having a long experience as one of the world leading LNG global players, we would like to share the same experience in the Philippines. We are really keen to invest in the Philippines,” Putra stated.

After the DTI, PT Pertamina is furthermore set to have a meeting with officials of the Board of Investments, Department of Energy and Energy Regulatory Commission to find out about the country’s ideas and policies on energy and investment.

PT Pertamina is approximately one of Indonesia’s major player in the oil industry, it is actually a state-owned national energy company of Indonesia.

Source: PNA