note the following interesting article just prior to the BPMigas...

note the following interesting article just prior to the BPMigas bombshell ... talk of miniLNG plant at 500,000 rather than 2 mtpa ...

just interesting but really shows we are shareholders have absolutely no idea what is going on ...



Energy World to build small LNG plant in Indonesia
Mon Jan 25, 2010 4:33pm IST Email | Print | Share| Single Page[-] Text [+] JAKARTA, Jan 25 (Reuters) - Australian oil and gas firm Energy World Corp's (EWC.AX: Quote, Profile, Research) Indonesian unit plans to build a small liquefied natural gas (LNG) plant with a capacity of 500,000 tonnes a year, a company official said on Monday.

"We plan to build the LNG plant...to supply a planned domestic LNG receiving terminal in Indonesia," Thompson Situmorang, Energy World general counsel, told reporters.

"The plant is expected to be operational for 5 years," he said, adding this was subject to approval by BPMIGAS, which monitors oil and gas contractors working in Indonesia.

Energy Equity Epic Sengkang, the Energy World unit, operates a natural gas block in South Sulawesi province.

Situmorang said the LNG will be supplied to a receiving terminal planned by local gas distribution firm PT Perusahaan Gas Negara (PGN) (PGAS.JK: Quote, Profile, Research).

PGN has said it will build a floating LNG receving terminal near Jakarta in a joint venture with state oil firm Pertamina with a capacity of around 1.5 million tonnes a year, and also plans to build its own floating receiving terminal in North Sumatra with capacity of about 1.5 million tonnes a year.

Indonesia has no LNG receiving terminal at the moment.

Indonesia, the world's third-largest LNG exporter behind Qatar and Malaysia, is seeking non-oil energy sources such as natural gas and coal to meet rising domestic demand for power and to reduce consumption of crude oil as its reserves dwindle. (Reporting by Muklis Ali; Editing by Neil Chatterjee)