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Indonesia may offer 25 cargoes of LNG on spot market in 2015

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Indonesia has 25 uncommitted cargoes of liquefied natural gas (LNG) which may be offered on the spot market in 2015 and may have to curb production if they cannot be sold quickly, upstream oil and gas regulator SKKMigas said on Wednesday.

[JAKARTA] Indonesia has 25 uncommitted cargoes of liquefied natural gas (LNG) which may be offered on the spot market in 2015 and may have to curb production if they cannot be sold quickly, upstream oil and gas regulator SKKMigas said on Wednesday.

"We don't have buyers yet," SKKMigas planning chief Aussie Gautama told reporters, adding that the total included 10 cargoes which Indonesia had failed to sell in 2014 because prices offered were too low.

"If we can't sell it easily, gas production will be stopped. If a domestic (buyer) can take it that would be good, but if not we'll sell it on spot," SKKMigas chief Amien Sunaryadi told parliament.

One LNG cargo contains approximately 145,000 cubic metres of gas.

Indonesia is the world's 11th largest gas producer, according to the Indonesian Gas Society.

REUTERS

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