MedcoEnergi and Pertamina will supply natural gas over a 15-year period at a cost in excess of US$12 billion to a new liquefied natural gas plant in Indonesia that will be operated by a Mitsubishi Corp.led joint venture.
About 250 MMscf/d of gas a year will be transported from the Senoro-Toili Block in Central Sulawesi Province through a 30-kilometre (19-mile) pipeline constructed by the Indonesian partners to the LNG plant. Gas deliveries will begin in the second half of 2012. The gas price will be tied to oil price based on Japan Crude Cocktail. The LNG plant will be built and managed by Mitsubishi's 50-per-cent-owned Donggi Senoro LNG (DSLNG). Pertamina owns 29 per cent of DSLNG, with MedcoEnergi holding the remaining 20 per cent. The LNG plant will have production capacity of two million tons (1.8 million tonnes) per annum. Besides natural gas from the Senoro field, the plant will also obtain gas from Pertamina's Matindok Block. The final investment decision to construct the plant is expected to be finalized at the latest by the fourth quarter of this year.
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