JAKARTA - PT Perta Arun Gas (PAG) and PT Natuna Eton Energy signed a memorandum of understanding (MoU) regarding the planned development of liquefied natural gas (LNG) storage facilities in the Arun LNG Refinery, North Aceh on Monday (19/10).
According to PAG President Director Arif Widodo, the storage facilities will support the company's LNG hub business opportunities and help meet the demand for LNG in China and Southeast Asia.
"We hope the first phase of the study, including technical and commercial aspects, can be completed within the next six months," Mr Widodo said in an official statement on the Ministry of State-owned Enterprises' website, Tuesday (20/10).
"This partnership is in line with the business plan established by PAG. Natuna Eton Energy will later conduct a study and prepare data for market potential, including commitments with potential LNG offtakers."
The planned storage facilities, said PAG's acting VP for Corporate Strategic Planning & Business Development Surkani Manan, is part of the company's expansion to develop its LNG hub business as part of the Bonded Logistics Centre project, and increase the utilisation of assets of ex-LNG refineries in Arun.
"Regarding the expansion plan including the development of two LNG storage tanks, Perta Arun Gas projects that they will be completed in the next 2.5 years after a six-month scheduled study which started in October," said Mr Manan. (MS)