PERTAMINA TO IMPORT US LNG

Indonesia's state owned energy company Pertamina will import LNG from the United States over the next four years to meet rising domestic demand, Jakarta Post reports citing company official.

According to the newspaper report, Pertamian plans to source the fuel from a US supplier for a 10 year period starting 2018.

"We have reached an agreement to buy LNG with a total annual capacity of 800,000 tons for the 10-year period," Pertamina business and marketing director Hanung Budya Yuktyanta said in Ulsan, South Korea.

Hanung said that Indonesia had to import LNG to meet demand because domestic-LNG production had begun to decline due to the depletion of gas reserves, reports Jakarta Post.

He added that the imported LNG would also be used to convert liquefied petroleum gas (LPG).