PGN to build US$450 mln LNG terminal in East Java

Jakarta (Antara News/Asia Pulse) - State-owned gas distributor PT Perusahaan Gas Negara (PGN) (JSX:PGAS) is seeking strategic partner to implement its plan to build a liquefied natural gas (LNG) terminal.

The terminal, estimated to cost US$450 million, would be built in Situbondo, East Java, PGN President Sutikno said.

The terminal would facilitate gas distribution to Java from the Tangguh LNG plant being built in Papua and the Senoro LNG plant to be constructed in Sulawesi.

PGN Director Adil Abas said a number of investors had indicated interest in becoming PGN's partner in the project to be implemented with a loan from Japan.

Adil said he hoped construction could start this year, to be completed in 2009 or 2010.
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