Indonesia joining the growing chorus of Asian countries starving for LNG! These stories keep rolling in... we all know China's strong desire as they're in the process of shutting down their coal plants. India's demand keeps growing... since 2011 through 2016 imports increased by 38%, grew 5.7% to 17mt in the first 11 months of 2016 and has risen sharply to 12.9% for a total of 19.2mt since Dec till end of April. The Indian Government is planning to increase their imports to 50mt by 2020!
Pakistan became a new Asian entrant in 2015, importing 1mt... 3.4mt in 2016, expecting 5.7mt in 17' with a conservative estimate by the Ministry of Petroleum & Natural Resources of 21mt by 2022.
Our deals will get signed so while we patiently wait..... kick back and enjoy life!!
Indonesia projected to become net LNG importer by 2022
Viriya P. Singgih
The Jakarta Post
Jakarta
Jakarta, posted: Mon, May 29, 2017 | 10:28 am
Indonesia is projected to become a net importer of liquefied natural gas (LNG) by 2022 amid increasing domestic demand and declining output at mature gas fields, data from Fitch Group's BMI Research show.
BMI Research has estimated that Indonesia’s gas demand will grow at an average annual rate of 4 percent over the next decade, with the biggest demand coming from the power generation sector.
At the same time, gas supplies are set to fall due to natural declines at various mature gas fields and delays to several major projects.
For example, France's Total E&P Indonesie, the largest gas-producing operator in Indonesia, is projected to see its supply at the Bontang LNG plant in East Kalimantan fall by 10 percent in 2017 on account of spending cuts amid volatility in oil prices and lingering uncertainties over its ownership of the gas-rich Mahakam block.
“This will see Indonesia become a net LNG importer by 2022. [State-owned energy firm] Pertamina has a deal with the United States’ Corpus Christie project starting in 2018 and an agreement with the UAE's Emirates National Oil Company to directly purchase LNG from the latter based on need,” BMI Research stated in its report published on May 24.
“More term deals could be on the horizon as the country's need for gas imports deepens.”
Indonesia exported 3.9 million metric tons of LNG in the first quarter of 2017, falling 7.5 percent year-on-year and down 15 percent below the five-year average.
More importantly, INDIA's intent...
In case of India, according to International Gas Union’s 2017 World LNG Report, it is the fourth largest LNG importer with 19.2 million tonnes per annum, having a global market share of 7.4%. According to Petroleum Planning & Analysis Cell, India’s LNG imports increased by 15% in 2015-16 on y-0-y basis to 16.08 million metric tons (mmt), while over the last five years.
