Indonesia's gas ambition faces investor test with Shell, Chevron exits:
Indonesia hopes the recent exit of global giants Shell and Chevron from two long-delayed ...
reuters.com/business/energy/indonesias-gas-ambition-faces-investor-test-with-shell-chevron-exits-2023-08-11/
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Indonesia’s Gas Plans Face Test After Shell and Chevron ExitsIndonesia hopes to advance two delayed gas projects after Shell and Chevron’s departure and more than double production by 2030.
Key FactsAug 11, 2023 · Reading time: ~45 sec.
Summary created with AI assistance · Source: reuters.com
Summary created with AI assistance · Source: reuters.com
- Shell said it would sell its Masela stake to Pertamina and Petronas; Chevron agreed to sell its IDD stake to Eni.
- Masela and IDD are estimated to cost $27 billion combined and serve as tests of Indonesia’s investment appeal.
- Indonesia targets gas production of 12 billion cubic feet daily by 2030; domestic demand is forecast to reach 7.6 billion.
- Price caps, export restrictions and required carbon capture raise investment costs; Jakarta is considering changes to the gross split scheme.
It is very important to make investment now, or never.— Benny Lubiantara, a senior official at SKK Migas, said this regarding the urgency of investing in Indonesia's gas projects.
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reuters.com/business/energy/indonesias-long-delayed-major-gas-projects-2023-08-11/
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