You are right - 70m mmcfd is about 25m mmbtu per annum which is0.5m tonne of LNG.
The article raises several questions that need clarifications:
1. PLN is the monopoly distributor of electricity - Is this volume include the volume of gas earmarked for the 315mw plant (about 20m mmbtu pa)and the local supply agreement (5m mmbtu)?
2. Is this actually a sale of LNG to PLN? EWC said they are indifferent between selling to tokyo gas and PLN as long as the price was the market price. PLN/Bimigas have also said that local supply is vital - so a local offtake would have been necessary for the POD. The article is not clear whether the LNG terminal is the liquidifdication plant or the regas plant. If the gas is to be delivered beyond the end of the wajo pipeline then the gas needs to converted to LNG for transport - where it could be regassed at the PLN terminal. However it seems unlikely that the a parallel liquidification plant would be constructed besidde the ewc plant. it seems more likely the LNG terminal is refering to the re-gas terminal (being cynial that is probably a job for slipform).
EWC Price at posting:
36.5¢ Sentiment: LT Buy Disclosure: Held
