bpmigas meeting?, page-8

--- without the offending 4th line---

seems like everyone on this stock on HC is either rosy rosy rosy or grasping at straws.

I suggest getting back to basics and leave the hope for the religious zealots.

Basics are Priyono is an old hand at EWC SE BS and enthusiasm. (who wouldn't be enthusiastic of selling 4-5 t cubic feet of gas bought for SFA.

4th line(content moderated)

Priyono has said yes to SBY way.

Indonesia is happy with the gas field providing
>> long term << elec into Sulawesi, so long as the turbine keeps going around. Why should Indonesia rely on EWC for LNG when they can't keep lubrication oil up to the turbine. Indon can hang onto the gas for long term by using any number of excuses or non recognition of winks with previous governments.

LNG from Senkang is very secondary to immediate priority of stabilising power production into Sulawesi, given that LNG is part of the 6 major projects going ahead this year without EWC, and cheap to import atm. Why sell/export gas reserves at the bottom of the market.

no need to dream up anything rosy about Tokyo Gas doing due diligence before signing up so therefore 100% etc etc, how many deals have they backed out of in the last 12 months when things turned out to be less than they expected. (any figure greater than zero will do).

ifandwhen

subsequent notes:- Shamish drew attention to BPMigas instigating the withdrawal of the Tokyo Gas arrangement that had to be backed out of. This raises a question of whether BPMigas wants to sell export gas generally or whether the lack of recognised data in this case on Sengkang is the problem. It does however show how eager Japan is to lay its hands on Indonesian gas, which could be a factor.

The other sticking point I see is the EWC modular train method is unproven and as this is R. Priyono's first year as head of BPMigas, (previously he was at the Energy Ministry), he would prefer >> all << boxes ticked before approval is given to construct. Once again, I can agree with Shamish's "their backyard" analogy.

I can also agree with 98% of Palm Tree's suppositions except the bit about BPMigas not looking after Indonesian interests.

Here is a question for anyone who can answer.
How much of the modular LNG trains have actually arrived in Indonesia ?