In contracts and/ or contract amendments signed after 1 July 2016, rupiah must be the currency used for settling payments for delivering natural gas through pipelines.
Last year, Eni Muara Bakau BV and its partner signed a gas sales and purchase agreement with state-owned oil and gas company Pertamina. Pertamina will receive 1.4 million tons of LNG.
“We haven’t thought about doing an upsize (increasing the value). We’re waiting for the government to think about it, observe the situation. An upsize is possible, we will consider it eventually ...
“We have already discussed this matter with our colleagues at the Public Works and Public Housing Ministry so construction can commence while land is being acquired.”