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Indonesia considers limits on LNG exports

The Indonesian government plans to prohibit the export of liquified natural gas (LNG) to help supply domestic industries, Coordinating Maritime Affairs and Investment Minister Luhut Binsar Pandjaitan has said.

Jakarta (VNA) – The Indonesian government plans to prohibit the export of liquified natural gas (LNG) to help supply domestic industries, Coordinating Maritime Affairs and Investment Minister Luhut Binsar Pandjaitan has said.

Speaking at the inauguration ceremony of the Indonesia Carbon Capture and Storage Centre (ICCSC) on May 30, the minister said that Indonesia has been exporting LNG for many years and now has decided to stop doing so as the country needs it.

A consolidated report has been sent to President Joko Widodo, adding that the ban will not affect ongoing export contracts.

The minister said that the government plans to redirect gas exports to meet domestic demand, especially for the petrochemical and methanol production industries, which are in high demand.

According to him, Indonesia is still importing petrochemical products, but the continued development of the petrochemical industry in North Kalimantan province is expected to help reduce imports as well as industrial gas prices.

Indonesia was the world’s eighth-largest LNG exporter last year with 14.6 billion cu.m. Its main LNG export markets include China, the Republic of Korea, Japan, Singapore and Mexico./.

VNA
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