INDONESIA’S OIL, NATURAL GAS CORPORATION EYES AN ESTIMATED USD 1B INVESTMENT IN PH
MAKATI – Department of Trade and Industry (DTI) Secretary Ramon Lopez revealed that PT Pertamina, the second-largest crude oil producer in Indonesia, expressed their interest to take part in the development of Liquefied Natural Gas (LNG) in the Philippines (PH) through a regasification hub project worth an estimated USD 1B.
“More investors, in different industries like PT Pertamina, have expressed their confidence in the country’s economic stability and business environment under the Duterte administration. They wish to partner with us in creating a more comfortable life for every Filipino through various opportunities,” said Sec. Lopez.
According to PT Pertamina Corporate Marketing Director Basuki Trikora Putra, the company is ready to offer its integrated LNG solutions by investing in FSRU or landed based LNG regasification and provide competitive LNG supply.
In a meeting on 29 January 2019 with the company’s executives, Sec. Lopez shared the growing energy landscape in PH and the government’s position on renewable energy sources.
“The Philippines is very much open for LNG investors. We will assist and work with them in looking for trusted partners until they begin their operations,” he added.
PT Pertamina is a state-owned national energy company of Indonesia, which owns six refineries in their country that have combined production capacity of one million barrels of oil a day.
“Having a long experience as one of the world leading LNG global players, we would like to share the same experience in the Philippines. We are really keen to invest in the Philippines,” said Mr. Putra.
The company is also set to meet with the Board of Investments (BOI), Department of Energy (DOE), and Energy Regulatory Commission (ERC) to be aligned with PH’s plans and policies on energy and investment. This is the first visit of PT Pertamina in PH.
Present during the meeting were Indonesian Ministry of Foreign Affairs Director for SEA Hastin Dumati, PT Pertamina LNG Global Venture Manager Imam Mul Akhyar, SVP Gas & LNG Management Tanudji Darmasakti, DTI Undersecretary Rowel Barba, Assistant Secretary Angelo Taningco, BOI International Investments Promotion Service Chief Lanie Dormiendo, Director Nestor Arcansalin, and Indonesian Embassy Manila First Secretary Arief Adnan.