Second largest crude oil producer in Indonesia PT Pertamina has shown interest to be part of the Liquefied Natural Gas (LNG) development in the country, with a possible US$1 billion investment.
This was revealed by the Department of Trade and Industry (DTI) Secretary Ramon M. Lopez after meeting with PT Pertamina executives led by Corporate Marketing Director Basuki Trikora Putra, who expressed the firm’s offer to invest in landed based LNG regasification and provide competitive LNG supply.
“More investors, in different industries like PT Pertamina, have expressed their confidence in the country’s economic stability and business environment under the Duterte administration. They wish to partner with us in creating a more comfortable life for every Filipino through various opportunities,” said Lopez.
Lopez shared the growing energy landscape in the Philippines, as well as the government’s stand on renewable energy sources.
“The Philippines is very much open for LNG investors. We will assist and work with them in looking for trusted partners until they begin their operations,” he added.
PT Pertamina owns six refineries in their country that have total production capacity of one million barrels of oil a day. The firm is a state-owned national energy company of Indonesia.
“Having a long experience as one of the world leading LNG global players, we would like to share the same experience in the Philippines. We are really keen to invest in the Philippines,” Putra was quoted as saying during the meeting.
Aside from DTI, the firm is also planning to meet with the Board of Investments (BOI), Department of Energy (DOE), and Energy Regulatory Commission (ERC) in order to be in sync with the government’s plans and policies on energy and investment.
Other PT Pertaina officials are present at the meeting including Indonesian Ministry of Foreign Affairs Director for SEA Hastin Dumati, PT Pertamina LNG Global Venture Manager Imam Mul Akhyar, SVP Gas & LNG Management Tanudji Darmasakti, and Indonesian Embassy Manila First Secretary Arief Adnan.
On DTI’s part, the attendees are the Undersecretary Rowel Barba, Assistant Secretary Angelo Taningco, and BOI International Investments Promotion Service Chief Lanie Dormiendo, Director Nestor Arcansalin.
Meanwhile, the DOE has approved the US$ 2.0-billion integrated liquefied natural gas (LNG) import facility and power plant projects of Davao businessman Dennis Uy in partnership with China National Offshore Oil Corporation (CNOOC), which will be registered under corporate name Tanglawan Philippines LNG, Inc.