OPERATIONS

Indonesia considers LNG spot sales against supply contracts

INDONESIA'S oil and gas regulatory body, BP Migas, has revealed the country intends to sell its LNG in the spot market in order to reduce dependence on contract-based sales. BP Migas marketing office head, Budi Indhianto, said the decision was in response to tighter competition from other LNG-producing countries.

“We are looking to the LNG spot markets in the US West Coast and Europe," Indhianto said.

"Indonesia must try selling LNG via the spot market as well as seeking new LNG supply contracts and extending existing ones.

“This is important because there has been an increase in new and aggressive competitors [like] Yemen and the Sakhalin gas projects in Russia. Indonesia’s LNG is becoming less competitive, and traditional buyers such as Japan, South Korea and Taiwan have started to ask for cheaper prices."

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