Pt Gas Negara Tbk News

State gas company PT Gas Negara Tbk/PGN is planning to build three LNG (liquefied natural gas) terminals at a total cost of $1.782b in Java and Sumatra, reports said. The terminals would be built in West Java, East Java and Medan (North Sumatra). He said demand for gas in West Java was now recorded at 1,112 million standard cubic feet per day (MMSCD). Yet, gas supply capacity in 2011 was expected to be only 731 million cubic feet per day (MMCFD) which would be used up by 2024. The funds would come from PGN and foreign loans. Construction work was scheduled to be commenced in the fourth quarter of 2008 and continue until 2011 while the operating contract as well as maintenance would last until the fourth quarter of 2011-2016. Source: Antra News