Indonesia gas and LNG H2 2018 summary Report

Commodity Market Report 23 January 2019

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What’s the key takeaway of this report?

Strong economic growth has boosted gas and LNG demand in the near term and LNG bunkering will provide growth opportunities in the future. The second half of 2018 saw progress on some of Indonesia’s key upstream assets.

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Report summary

The second half of 2018 saw progress on some of Indonesia’s key upstream assets. Eni’s Merakes was sanctioned in December 2018, and won the government’s approval on the fast-track development proposal. In the same month, Abadi submitted its new plan of development, with a clear site location in mind. The plan is currently under review, and results are expected in early 2019. The only project that remains would be Chevron’s IDD project, which is on the list of priorities for the new SKK Migas Chairman. Java 1, Indonesia first integrated LNG project, reached FID in Q4 2018. The project, consisting of a 1.8 GW gas-fired power plant and a 3.8 mmtpa FSRU, targets startup in 2021. Meanwhile, despite winning the Sengkang PSC extension, EWC’s Sengkang liquefaction project remains stalled as negotiations with PLN seem to have reached an impasse.

Market background
Strong economic growth boosts gas and LNG demand in near term, LNG bunkering to provide growth opportunities in the future
Dumai-Duri pipeline completed, South Sumatra faces potential gas supply crunch
Mahakam disappoints, Merakes sanctions, Abadi progresses
Bontang sees new management, Sengkang liquefaction project still in limbo
Integrated LNG project Java 1 reaches FID
Bojonegara out, LNG trucking in
Merger of Pertamina and PGN progress as roles of both groups take shape
Pertamina took over several expiring upstream PSCs
SKK Migas sees new leadership