PT Pertamina (Persero) has agreed on a sale and purchase agreement for Liquefied Petroleum Gas (LPG) with the Abu Dhabi National Oil Company (Adnoc) for the next four years. This cooperation is to ensure the supply of LPG in Indonesia.
"Currently, the balance of national LPG import needs reaches 6 million tons per year. The hope is that with this cooperation Pertamina can expand supply sources and maintain supply stability, "said Director of Central Marketing & Commerce of PT Pertamina Patra Niaga SH C&T Pertamina Hasto Wibowo.
Hasto explained that the national demand for LPG is estimated to reach 8.30 million tonnes in 2022. Furthermore, it will increase again to 9.12 million tonnes in 2023, and 10.01 million tonnes in 2024. Hasto said the cooperation agreement is likely to be extended every time. the year. In addition, an evaluation is carried out before the agreement ends.
"This cooperation is one of the procurement strategies for bundling LPG and petrochemical products that are purchased directly from the producer. It is hoped that this cooperation can create long-term collaboration opportunities for LPG and petrochemical products, "said Hasto.
Senior President International Relations Adnoc Salem Raheb Al Meheiri welcomed the strategic cooperation with Pertamina.
"As one of the largest producers of LPG, crude oil, and petrochemicals in the world, Adnoc guarantees that it will supply products reliably to Indonesia," said Salem.
The Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan explained that the collaboration between Pertamina and Adnoc is one of the seven collaborations between Indonesia and the UAE signed at the Indonesia-Emirates Amazing Week 2021 event.
"These are all first steps to build better relations between the two countries and we will continue to support each other's economic growth in Indonesia and the UAE," said Luhut.
The seven cooperation agreements in question are mangrove cooperation with the UAE, a memorandum of understanding (MoU) of cooperation in the creative economy, technical arrangements for a world conference on the creative economy, and a joint venture between Dubai Port (DP) World and PT Maspion in the construction of a container port. packing in East Java.
Other collaborations are the world logistic passport agreement, the MoU between PT Pindad-Caracal, Pertamina-Adnoc, and the Lulu Lease Agreement financing agreement.
UAE Minister, Energy, and Infrastructure Suhail Al Mazrouei explained that currently, the governments of the two countries are sitting together to identify investment areas that can not only be worked on together between governments, but also the private sector.
"This is still the first step. Of course, we hope that this cooperation together can boost the economic growth of the two countries," said Suhail.
Suhail said the LPG and sulfur sales contract will last for four years with an annual contract value of US $ 500 million. Thus, the estimated contract value will be the US $ 2 billion over the next four years.
“The LPG contract together with sulfur is a four-year contract and that's about 500 million dollars a year, so the contract is 2 billion dollars over four years and between 2 billion-2.2 billion US dollars depending on the price. So, it can be renewed, "said Suhail.
Republika, Page-9, Monday, March 8, 2021
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