Arab Today, arab today indonesia china reach deal on price hike of gas from tangguh
Last Updated : GMT 00:00:12
Arab Today, arab today
Arab Today, arab today

Indonesia, China reach deal on price hike of gas from Tangguh

Arab Today, arab today

Arab Today, arab today Indonesia, China reach deal on price hike of gas from Tangguh

China's gas
Jakarta - Xinhua

The Indonesian renegotiation team has made agreement with buyer in Fujian, China over the rise of liquefied natural gas (LNG) price from Tangguh field in Papua of Indonesia, an Indonesian official disclosed here Monday.
Indonesian Energy and Mines Minister Jero Wacik revealed that both sides agreed to raise gas price from 3.3 U.S. dollars per mmbtu (million metric British thermal unit) to 8 U.S. dollars per mmbtu and it would keep rising based on the Japan Crude Cocktail ( JCC) or the average price for customs-cleared crude oil imports, which is used in the formula for determining gas price.
In the renegotiation, both agreed to delete the cap of JCC price which was determined only at 38 U.S. dollars per barrel, said Wacik.
The formula for the LNG price before the renegotiation was 5.25 percent multiplied by JCC price, so the gas price at that time was at 3.3 U.S. dollars per mmbtu, said Wacik. "Starting from July 1, we have agreed the price is (determined with the formula of), 0.065 multiplied by JCC, and then plus 1.5 U. S. dollar per mmbtu,"he told a press conference at the State Palace after the cabinet meeting. "With the JCC price of 100 U.S. dollar per mmbtu in May, the gas price becomes 8 U.S. dollars per mmbtu. This is an extraordinary increase, it is four times higher," Wacik added.
As the JCC price would keep rising, the minister expected the gas price to be at 10.3 U.S. dollars per mmbtu next year and 12 U. S. dollars per mmbtu in 2017, he said.
The contract of the gas sales to Fujian, China will end in 2034.
The sales of gas was signed under the presidency of Megawati Soekarnoputri in 2002.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today indonesia china reach deal on price hike of gas from tangguh Arab Today, arab today indonesia china reach deal on price hike of gas from tangguh

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today indonesia china reach deal on price hike of gas from tangguh Arab Today, arab today indonesia china reach deal on price hike of gas from tangguh

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Lufthansa chief eyes up to 78

GMT 11:29 2017 Thursday ,21 September

Lufthansa chief eyes up to 78
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Rouhani at UN defends Iran nuclear deal

GMT 09:41 2017 Thursday ,21 September

Rouhani at UN defends Iran nuclear deal
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today China lifts 10-year travel ban

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Actress Ream Hhagag prepares for a new film

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:49 2017 Wednesday ,20 September

WHO urges Yemen to accept vaccines

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday