Indonesia to Renegotiate LNG Terms with CNOOC

摘要

In 2002, Indonesia and China National Offshore Oil Corp. (CNOOC). signed a sales contract that would allow the Chinese country to buy gas at US$2.40/MMBtu for 25 years, the Jakarta Globe reported September 1. The contract, calling for Indonesia to supply 2.6-million-tonnes of LNG to China per year, includes an option to raise the domestic gas sales price based on global market rates. "The renegotiation team must prepare everything well, because this is not an ordinary bargaining process - this is a diplomatic process," Widjajono Partowidagdo, a member of the National Energy Council (DEN) said in an interview with the Jakarta Globe.