Indonesia's state-owned oil and gas producer, Pertamina, said last Friday it was optimistic of extending several LNG deals with Japan, Taiwan and South Korea that will otherwise expire over the next few years.
"We are optimistic of extending the contracts and we are also looking to new markets because Indonesia has a competitive advantage," said Pertamina downstream director, Muchsin Bahar "Geographically Indonesia is near to Japan, South Korea and Taiwan and we will also offer flexibility to our buyers over extension deals."
An official from Pertamina said an annual contract for 2.3 million tonnes of LNG to South Korea would end in 2007, while an 8.4 million tonne contract with Japan expires in 2010 and another 3.6 million tonne deal will end in 2011.
Indonesia is the world's largest exporter of LNG and currently operates four LNG plants in Arun in remote Aceh province and eight plants in Bontang, East Kalimantan with a total capacity of around 26 million tonnes annually.
