Pertamina to buy LNG from ExxonMobil

Deal agreed for long-term imports of clean fuel

Indonesia’s national oil company Pertamina has agreed to buy long-term volumes of liquefied natural gas from US supermajor ExxonMobil as the republic moves to help sate its burgeoning gas demand.

The duo have signed a memorandum of understanding whereby Pertamina will purchase 1 million tonnes per annum of LNG from ExxonMobil under a 20-year contract.

Financial terms of the deal, which is scheduled to start only in 2025, were not disclosed.

A Pertamina official recently told Upstream that the company plans to boost its LNG import capacity with the addition of new floating storage and regasification units at strategic locations across the Indonesian archipelago.

https://www.upstreamonline.com/live/1245936/pertamina-to-buy-lng-from-exxonmobil