Indonesia teams up with South Korea on LNG development

Jakarta: Indonesia and South Korea will work together on coalbed methane projects, a floating LNG terminal, an onshore liquefaction facility and a $2.8bn synthetic natural gas plant in the Southeast Asian nation. The two countries reached an agreement yesterday at the annual Korea-Indonesia Energy Forum.

“The two countries agreed to expand cooperation in the whole gas value chain that covers upstream, midstream and downstream," Korea’s Ministry of Trade, Industry and Energy said in a statement.

"Joint efforts by the two nations to develop CBM would help South Korea ensure stable gas supplies and help Indonesia speed up sluggish projects to develop the unconventional gas," said an official from the ministry.

According to the statement, the two countries are eyeing joint projects to build a floating LNG terminal, small LNG carriers, an onshore liquefaction facility in Indonesia.

The Korean Register of Shipping has signed an MOU with Indonesia’s Pertamina on the development of the floating LNG terminal project. [03/06/14]

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