Must be an announcement soon !, page-10

I dont know.

Neither facility has any value without gas, and the gas has no value without the facilities or perhaps a local gas reticulation/LPG network. But I doubt the LPG/local gas will justify the investment needed to expand the gasfields, and may not even justify the operation of the gasfield at all. This would suggest there is some deal to be struck between the operators of the gasfield and the owners of the generation and LNG.

Bakrie has no skin in the game yet. They got they share of the PSC for zip money down and a requirement to co-invest in expansion. If EWC has no money to invest in EEES when (if) the time comes then EWC is likely to cede the rest of EEES/PSC to EMA as it will not have the funds.

But then we have the involvement of SKK Migas and the "national interest". Producing gas will have to tick SKK Migas's boxes. If SKK Migas requires a programme of development and EWC is seen as preventing this, EWC will lose the PSC and EMA will take over.

Next, it appears that South Sulawesi is not suffering too much from the shut down of the generation at Sengkang and someone is definitely benefiting from taking the market share previously supplied by Sengkang. Further there is a load of renewable projects going into South Sulawesi, and PLN itself is building a CCGT in the area. PLN did not exercise its BOOT option. Basically it turned down a power plant that it could have taken in house for free instead of building a new one. Why? Is it redundant?

EWC will be free to run its power station on a merchant basis. As gas fired plant in direct competition with PLN's new plant and the renewables, its output will not be dispatched.

The LNG is entirely dependent on whether the gas can be exported, or whether the LNG is required within Indonesia in order to get the tick from SKK Migas. So while it is a possibility, it does not look likely. This approval may be gained with political approval. You see where that political pressure/motivation is likely to come from.

The LNG trains are modular so that it could be constructed cheaply and moved to stranded gas (or at least that was the concept). Perhaps it is time to pack up and bug out.

I cant help but think the strategic error was that believing that the opportunity for profit, subject to regulation, would be enough to allow EWC to exploit the opportunity. The reality is that the Indonesians are more "holistic" and the national interest is primary to private enterprise. The participants in the market are there to facilitate the states objectives.