Ann: Sengkang Power Plant, page-42

No LNG and no power generation, then the gasfield is worth zip - which may explain why Bakrie paid nothing for its share of the PSC.

I am really struggling to see how SE and BA can turn this around.

Does the PSC require minimum offtakes from the gasfield, or minimum baseline payments? Or minimum investments into the gasfield maintenance/development? What assumptions regarding the PPA underlie the PSC renewal? What PSC contractual requirements will be breached by the lost cashflow?

The thing is that the Indonesian government is not a neutral player - especially with respect to its aims, or the aims of Indonesia players, vis a vis an Australian firm. Even if local demand requires the electricity to be generated, and/or the gas to be produced, the Indonesians will set it up so the fruits of the investment go to the locals if they can.