Shell Pulls Out from LNG Project in Indonesia’s Masela Block

The Masela Project has to deal with some work such as land acquisition and finding buyers. Inpex Corporation and Shell Indonesia as the operator have not yet found potential buyers for the LNG product.

Previously, Inpex Masela Ltd signed memoranda of understanding (MoUs) on gas supply from Abadi LNG Project with Indonesian state-owned electricity company PT PLN and state-owned fertilizer producer PT Pupuk Indonesia in February 2020.

The MoU aimed to discuss sales and purchase agreements for the LNG and natural gas supply from the project to natural gas-fired power plants operated by PLN and natural gas 150 million cubic feet per day (mmscfd) to a co-production plant, which Pupuk Indonesia plans to construct. SKK Migas aims to complete the process of finding buyers in 2021.

(Editor : Erlangga Djumena)

Source: https://money.kompas.com/read/2020/07/06/060900926/shell-hengkang-dari-blok-masela-apa-alasannya-?page=2