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Indonesia conducts first gas delivery to South Korea
Friday, July 03, 2009 4:16 AM


JAKARTA, Jul. 3, 2009 (Xinhua News Agency) -- Indonesia has carried out the first shipment of natural liquefied gas from the Tangguh block in Papua, easternmost of the country, to South Korea, Mines and Energy Minister Purnomo Yusgiantoro said here Friday.

The gas delivery from the 5-billion project in remote Papua was to supply the contract of selling 600,000 to 800,000 tons of gas a year to South Korea's K-Power and POSCO. (NYSE:PKX)

"The first shipment has been done," Purnomo told reporters.

The Tangguh field was constructed by a consortium led by Europe 's largest oil and gas company BP Plc.. (NYSE:BP) Its first production this year is expected to yield 7 million tons per annum in the first phase.

"The first shipment is one cargo," said Purnomo.

Indonesia, the world's second-biggest liquefied natural gas (OOTC:LNGLF) exporter after Qatar, has more far more gas than oil.

Ahead of the presidential polls, the country has been facing some calls to stop gas export to meet rising domestic demand.

(Source: iStockAnalyst )


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