Indonesia’s Nusantara Regas, a 60/40 public-private joint venture set up to develop LNG transportation infrastructure, has chosen Golar LNG to build a 3 million tonnes per year gas receiving terminal near Jakarta.

Nusantara Regas consists of state-owned energy company Pertamina and private gas distributor PT Perusahaan Gas Negara. Nusantara Regas signed a preliminary deal with Total E&P Indonesie (a subsidiary of French energy giant Total) for 1.5 million tonnes of LNG per year for 11 years, to be supplied from Bontang LNG in East Kalimantan. The cost of the whole project is estimated at US$300-400 million, and is due to be commissioned by the end of 2011.

Indonesia is the world’s third largest LNG (liquefied natural gas) exporter after Qatar and Malaysia. It is also trying to increase its domestic consumption of the fuel to overcome its dependence on oil, the local supply of which has diminished in recent years.

source & article: Reuters via Yahoo!