SKK Migas, INPEX Ensure Abadi LNG Project’s Swift Progress

Long-term LNG purchase contracts hold crucial significance for Inpex as the operator of the Masela Block. These contracts serve as a fundamental basis for securing additional financing to effectively manage the oil and gas block.

Stepanus I Nyoman A. Wahyudi

16 Feb 2024 - 19.04
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SKK Migas, INPEX Ensure Abadi LNG Project’s Swift Progress

Bisnis, JAKARTA — The Abadi liquefied natural gas (LNG) project within the Masela Block remains a top priority, with ongoing efforts to meet targets aimed at bolstering domestic gas supplies. All stakeholders are fully committed to ensuring the seamless progress of this vital national strategic project.

The anticipated surge in LNG demand, projected to reach between 625 million - 685 million tons per year by 2040, provides an opportune momentum for Inpex Corporation to actively pursue LNG buyers for the Abadi project in the Masela Block through long-term contractual agreements.

Inpex, along with its partners Pertamina Hulu Energi Masela and Petronas Masela Sdn. Bhd., are strategically focusing on the LNG market in Asia, recognized as the epicenter of burgeoning demand for this vital energy commodity.

President & CEO of Inpex Takayuki Ueda disclosed that they have received preliminary interest, as indicated in a letter of intent (LoI), from several potential buyers across Asia. Presently, the demand for LNG from the Abadi project in the Masela Block has surged to 25 million tons per year.

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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.