Indonesia to build LNG floating terminals

JAKARTA, Feb. 4 (Xinhua) -- Indonesia's state-owned oil and gas firms PT Pertamina and gas distributors PT Perushaan Gas Negara (PGN) agreed on Thursday to build a floating liguified natural gas (LNG) receiving terminal off West Java, Antara news agency reported.

The construction of the terminal will start later this year and will fully operation next year. The terminal would store 1-1.5 million tons of LNG. The two firm agreed on Thursday to form a joint venture to operate the floating LNG receiving terminal. Pertamina will have 60 percent of the shares in the joint venture. "The project will complement Pertamina's LNG chain which has been in place for more than 30 years,"Peertamina Director Karen Agustiawan quoted by Antara news agency as saying.

The joint venture will get supplies from East Kalimantan of 11. 75 million tons over 11 years.