Japanese utility Chubu Electric Power will buy liquefied natural gas (LNG) from the Donggi-Senoro project in Sulawesi, Indonesia.
Chubu intends to buy one million tonnes per year of LNG for 13 years starting in the second half of 2014, according to Reuters.
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Pertamina, Indonesia’s PT Medco Energi International and Japan’s Mitsubishi plan to build the Donggi-Senoro LNG plant with a capacity of two million tonnes per year.
The project, which requires $1.7bn for upstream activities and $2bn for downstream, is to be operational in 2014.
Chubu expects to sign a contract for the purchase in October 2010 and will also set up a joint marketing venture to sell part of the LNG it buys from the project to third parties.
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By GlobalData
