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.
“The numbers were coming back, the changes were not made by Candra. He asked, ‘what’s your cost structure like"’ That’s all. They [Inpex] brought it up, Mr. Candra corrected them, they said ...
“We must acknowledge that Mr. Arcandra is a great man. We did not know that prices were expensive. But he was able to lower prices. We must applaud that."