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TIARA, FLEX MAY REPLACE MITSUBISHI ON INDONESIAN LNG PROJECT

Tue. September 08, 2009; Posted: 02:43 AM
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JAKARTA, Sep 08, 2009 (AsiaPulse via COMTEX) -- MSBHY | Quote | Chart | News | PowerRating -- PT Tiara Energy and British oil company Flex LNG are ready to replace Mitsubishi Corp as the operator of the Dinggi-Senoro gas block if the Japanese investor decides to quit.

Mitsubishi has been reported to choose to quit if liquefied natural gas (LNG) to be produced from the block is to be disposed of entirely on the domestic market as announced by the government. The Dinggi-Senoro LNG project is joint owned by Mitsubishi and state oil and gas company PT Pertamina and the Medco Group with the Japanese company holding the majority stake of 51 per cent.

Tiara President Sunarto Ponirin said his company and its British partner would accept the condition set by the government that its LNG production would be entirely for domestic consumption.

Earlier Tiara and Flex LNG expressed interest in taking part in the development of a giant gas block in Masela operated by Inpex in the Timor Sea.

(ANTARA) cg

For full details for MSBHY click here.

    


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