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Investing in Indonesia's energy security

Article - September 3, 2012
ISARGAS seeks to revolutionise the use of natural gas domestically
WACHID HASIM, OPERATIONS DIRECTOR OF ISARGAS
With 335 trillion cubic feet (tcf) of estimated natural gas reserves of which 112 tcf is proven, Indonesia will be fundamental for future energy security within the Asia Pacific, with natural gas demand in the region increasing at an annual average growth rate of 13.4% between 2000 and 2011. However, despite Indonesia’s status as the world’s second largest exporter of LNG after Qatar, oil and gas industry regulator BP Migas recently expressed that it would seek to import overseas cargoes of LNG to meet growing domestic demand.

“This situation has occurred due to the fact that it simply has not been financially viable for domestic players to invest in low-to-medium scale LNG liquefaction plants,” explained Wachid Hasim, Operations Director of ISARGAS – Indonesia’s largest private gas trading entity by volume.

ISARGAS has successfully secured more than 120 BBTUD in contracts with industry leaders including Pertamina, Kangean Energy and Husky Oil, and has enjoyed lasting relationships with domestic and multi-national companies in Indonesia including Bayer and Mitsubishi. “We want to be the first to enter into this kind of business, and are open to strategic partners or simply project financing,” he said. ISARGAS are interested in German-manufactured critical equipment for their LNG plant.

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